200 day still holding firm
Updated
10,000 dollar moves happen but few happen in 1 day.
Perfect set up with a move into the 50k area and this weekend pushing higher with the US and Canadian Markets closed yesterday.
They the news about a nation placing Bitcoin as a currency. On top of that, the Dow starts falling and problems with coinbase.
All along we have been saying that we will have 10-15K swings and since we just came off 29,000 level, we deserve a bit of a reset. Make no mistake, this drop is an opportunity for new blood to enter.
On 19 May we had one of these huge moves along with the dow.
"El Salvador president Nayib Bukele confirmed that the El Salvadorian government purchased its first 200 Bitcoin (BTC) yesterday, ahead of the implementation of the new $150 million Bitcoin fund that passed last week. "
"Back in June 2021, El Salvador became the first country to recognize Bitcoin as legal tender -"
15 hours ago
cryptocompare.com/
seekingalpha.com/article/4453829...
"The Bitcoin (BTC-USD) subreddit community is looking at a coordinated plan to buy the cryptocurrency to commemorate El Salvador's law making it legal tender. President Nayib Bukele tweeted yesterday that the country had purchased a total of 400 Bitcoins.
It was three months ago (and with the price at 35K) that Bukele made a surprise appearance at Miami's Bitcoin 2020 conference to announce plans to make the crypto legal tender in his country.
The law in El Salvador goes into effect at 3 PM local time (5 PM ET) and citizens will be able to download a digital wallet and receive $30 in Bitcoin after entering their ID number. Bitcoin is now down about 1%, moving below 52K."
11 hours ago
Perfect set up with a move into the 50k area and this weekend pushing higher with the US and Canadian Markets closed yesterday.
They the news about a nation placing Bitcoin as a currency. On top of that, the Dow starts falling and problems with coinbase.
All along we have been saying that we will have 10-15K swings and since we just came off 29,000 level, we deserve a bit of a reset. Make no mistake, this drop is an opportunity for new blood to enter.
On 19 May we had one of these huge moves along with the dow.
"El Salvador president Nayib Bukele confirmed that the El Salvadorian government purchased its first 200 Bitcoin (BTC) yesterday, ahead of the implementation of the new $150 million Bitcoin fund that passed last week. "
"Back in June 2021, El Salvador became the first country to recognize Bitcoin as legal tender -"
15 hours ago
cryptocompare.com/
seekingalpha.com/article/4453829...
"The Bitcoin (BTC-USD) subreddit community is looking at a coordinated plan to buy the cryptocurrency to commemorate El Salvador's law making it legal tender. President Nayib Bukele tweeted yesterday that the country had purchased a total of 400 Bitcoins.
It was three months ago (and with the price at 35K) that Bukele made a surprise appearance at Miami's Bitcoin 2020 conference to announce plans to make the crypto legal tender in his country.
The law in El Salvador goes into effect at 3 PM local time (5 PM ET) and citizens will be able to download a digital wallet and receive $30 in Bitcoin after entering their ID number. Bitcoin is now down about 1%, moving below 52K."
11 hours ago
Note
Stop thinking day to day. Concentrate on your 200 day. Aug 7 to Aug 19... above and below. We are back there. The market will move back and forth.What is a 10-15K move when something is 45K .. Others are not looking at the big picture. More are getting on board every day. The train is moving. Either get on board or wave from the station. Get your blinders off the 5, 10 and 20 K history.
We are in a new era. And good old Biden is helping this right along with his 35 Billion a week increase in the US National debt.
Watch the clock, mark it down week over week. Average increase each week 25-30 BILLION in National Debt.
usdebtclock.org/
30.2 TRILLION by year end projected
El Salvador first (El Salvador President Nayib Bukele bought the dip as did many others.
India next
Many more countries will be on board.
Back in June 2021, El Salvador became the first country to recognize Bitcoin as legal tender -"
15 hours ago
cryptocompare.com/
seekingalpha.com/article/4453829
Bitcoin became legal tender in El Salvador
seekingalpha.com/market-news/wall-street-breakfast?mailingid=24977239&messageid=&serial=24977239.442660&utm_source=seeking_alpha
"Bitcoin-related stocks slide, following a 9.0% drop in the world's biggest cryptocurrency by market cap, bringing bitcoin to ~46.9K.
The most obvious drop comes from bitcoin miners: Bit Digital (BTBT -10.7%), Bitfarms (BITF -8.0%), Riot Blockchain (RIOT -8.7%), Marathon Digital (MARA -8.6%), Hut 8 Mining (HUT -7.2%). Others caught in the downdraft include Coinbase (COIN -3.8%), MicroStrategy (MSTR -7.0%), Grayscale Bitcoin Trust (OTC:GBTC -8.1%), and Osprey Bitcoin Trust (OTCPK:OBTC -9.8%).
Other major cryptos also swoon — ethereum (ETH-USD) declines 14%, Cardano (ADA-USD) falls 16%, XRP (XRP-USD) -19%, Binance Coin (BNB-USD) -19%.
The crypto decline comes as the subreddit community attempts to coordinate the purchase of bitcoin to show support for El Salvador's adoption of bitcoin as legal tender becomes effective today.
El Salvador President Nayib Bukele buys the dip. "150 new coins added," he says via tweet."
Note
Alarm set 42900,Note
NEVER UNDERESTIMATE THE POWER OF BITCOIN.WE ARE IN 2021 NOT 2011
Note
Gold and silver are set to go up. Perfect MACD at the bottomNote
THE 200, 100, AND 50 DAY MOVING AVERAGES WILL FIGHT THIS OUT AS WE CONSOLIDATE HERE FOR AWHILE.Note
Called consolidation above and below the 200 moving average.Note
Back into the channel in October
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