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Discussion in 'Business, Investing & Finance' started by Taco Gratis, Mar 22, 2021.
$3 Trillion in new stimmy. Biden Administration Officials Put Together $3 Trillion Economic Plan
I'll believe anything about infrastructure when I find those shovels Obama was talking about 12 years ago...I'll also order up my solar kit once Solyndra gets their website back up.
What is considered a "dip" in bitcoin? It hasn't been under $50K in about a month, but it's gone from $51k-$61k in that time. Is $51K now a "dip".
I mentioned it starting to form a price channel almost a stock or say the S&P, DOW or whatever about 6 weeks ago. I think it stays in that 50-60 channel more consistently unless it gets banned in other countries and or more negative press in the US....It's been my only consistent trade in that time span believe it or not....everytime I get near 1K up I sell that much in shares and then buy another 15-20 shares(Grayscale)when it gets to the bottom of the channel holding the bulk of the shares I bought when it was in the 30's...
Honestly, because of what is going on, and this applies to all markets/things, any pullback is "the dip," because we are only going in one direction given what they are doing.
It's back over $59k this morning. I was really hoping to see this get back into the mid-40's again.
One thing to watch for is the DXY. It is on a tear lately and has rebounded strongly. If this is not a fakeout, then I think we will see things cool off on the Bitcoin front for a while. The other possibility is that the DXY is just USD against other fiat currencies, and if all of them are printing as hard as we are, then many people would still rather hold USD over some other shakier economies, and Bitcoin will still keep going up. Interesting to watch this unfold. Currently I am happy with my entry point in Bitcoin and the amount of exposure I have, not buying anymore Bitcoin until I see us start testing or breaking below the 20 week moving average. That will scare a $hitload of new comers and I will be waiting to scoop up their bitcoin at that time. I am also not planning to sell any bitcoin even if we crash 80%. Short term capital gains tax is a *****. Just going to increase my position.
If it crashes 80% I will get to my goal of 1 Bitcoin on that day. I only have a little over 3% of a Bitcoin now, but that kind of bargain would make me dive in headfirst
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