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1
Bitcoin
2022 Feb 16, 9:54am
Bitcoin
2022 Feb 16, 9:54am
Rin says
Yep, this will take some time to test the upper band. Maybe towards the second half of this year of even beginning of 2023.
I'll get more bullish when BTC breaks through the 20wma and re-test it as support.
And yet, as a realist, it's hard to deny what's happened during the age of money printing ...
For the past year, when BTC reached its first breakout high in Mar 2021, it's been forming a bullish channel, ever since.
That mean a major sell off, results in a higher lower, with the consequential run up, leading to a higher high.
Yep, this will take some time to test the upper band. Maybe towards the second half of this year of even beginning of 2023.
I'll get more bullish when BTC breaks through the 20wma and re-test it as support.
2
Rin
2022 Feb 16, 10:07am
Rin
2022 Feb 16, 10:07am
Just FYI, I'm only using the dividend checks from XOM, PG, ED, etc, for the XBTF because IMHO, those blue chips are now too expensive and this is a better way to navigate a relative market top than in simply using the DRIP.
3
Rin
2022 Feb 26, 12:29pm
Rin
2022 Feb 26, 12:29pm
Ok, I've stopped the DRIPs outside of the usual suspects of Altria, British-American Tobacco, Rio Tinto, since those are all high-yield, low cap gain types of stalwart equities in tobacco & mining.
With that, I've re-directed that quarterly amount to 1200 shares of XBTF @ 35. I expect this to go to 65 with a hard stop loss exit near 23, a Fibonacci level set from last year's breakout, if all goes to hell in a basket.
That's a 2.5:1 Win:Loss ratio for a short term intermediate trade.
This is my first crypto trade, as I'm not a fan of something which, for the most part, is 100% speculative of a business paradigm that doesn't exist today.
With that, I've re-directed that quarterly amount to 1200 shares of XBTF @ 35. I expect this to go to 65 with a hard stop loss exit near 23, a Fibonacci level set from last year's breakout, if all goes to hell in a basket.
That's a 2.5:1 Win:Loss ratio for a short term intermediate trade.
This is my first crypto trade, as I'm not a fan of something which, for the most part, is 100% speculative of a business paradigm that doesn't exist today.
4
Rin
2022 Feb 26, 12:35pm
Rin
2022 Feb 26, 12:35pm
Plus, it's not really a risk because that cash will re-emerge in my brokerage account next quarter anyways.
5
KgK one
2022 Feb 26, 7:08pm
I have kept drip for Altria and yum brands.
Joined coinbase and bought btc n etherium 500$ worth.
Agree these crypto r very speculative, with nothing backing them.
Joined coinbase and bought btc n etherium 500$ worth.
Agree these crypto r very speculative, with nothing backing them.
6
Rin
2022 Feb 26, 8:53pm
Rin
2022 Feb 26, 8:53pm
KgK one says
Well here's the thing, if one uses the DRIP with let's say P&G, now a stock near its all time high, nearly double from 2018, then those re-invested shares at the top will probably cost you that same 1/3 stop-loss on the XBTF ETF for Bitcoin, given the fact that P&G could eventually correct by that much.
In other words, it's a way of making those expensive blue chips pay for some of the crypto price action with limited overall risk.
Agree these crypto r very speculative, with nothing backing them.
Well here's the thing, if one uses the DRIP with let's say P&G, now a stock near its all time high, nearly double from 2018, then those re-invested shares at the top will probably cost you that same 1/3 stop-loss on the XBTF ETF for Bitcoin, given the fact that P&G could eventually correct by that much.
In other words, it's a way of making those expensive blue chips pay for some of the crypto price action with limited overall risk.
7
KgK one
2022 Feb 28, 4:03pm
How to find fibonacci? .6 x max price ?
I want to figure out stocks that doubled in last 2 years , n may be 4 x last 2to 4 yrs. Then put money into it when fed is done raising interest rates. These could be next FANGS
Is there site for finding this or do I download all info in excel and use code to get there?
I want to figure out stocks that doubled in last 2 years , n may be 4 x last 2to 4 yrs. Then put money into it when fed is done raising interest rates. These could be next FANGS
Is there site for finding this or do I download all info in excel and use code to get there?
8
Tenpoundbass
2022 Feb 28, 4:13pm
Tenpoundbass
2022 Feb 28, 4:13pm
I made thousands with Let's Go Brandon Coin, send me $100 and I will show YOU, how I did it!
Call me NOW!
Call me NOW!
9
Rin
2022 Feb 28, 5:11pm
Rin
2022 Feb 28, 5:11pm
KgK one says
I believe most charting tools allow you to create Fib levels, like stockcharts.com. Just look at my prior year trace of Bitcoin, after its major breakout ...
https://patrick.net/post/1338279/2021-02-28-rin-s-5-min-take-on-bitcoin
What was the bottom of the current crash? ... the 0.5 level of that 2021 chart and almost to the tee but for this year, 2022. That was my buy signal, a confluence of both, the Bullish Channel (in formation), along with price resistance at the original 0.5 level, which will be outdated next year, if you want to repeat the same thing for 2023.
I suspect that this whole thing may be a phase prior to the major market crash but for now, Bitcoin is bullish.
How to find fibonacci? .6 x max price ?
I believe most charting tools allow you to create Fib levels, like stockcharts.com. Just look at my prior year trace of Bitcoin, after its major breakout ...
https://patrick.net/post/1338279/2021-02-28-rin-s-5-min-take-on-bitcoin
What was the bottom of the current crash? ... the 0.5 level of that 2021 chart and almost to the tee but for this year, 2022. That was my buy signal, a confluence of both, the Bullish Channel (in formation), along with price resistance at the original 0.5 level, which will be outdated next year, if you want to repeat the same thing for 2023.
I suspect that this whole thing may be a phase prior to the major market crash but for now, Bitcoin is bullish.
10
Rin
2022 Feb 28, 5:19pm
Rin
2022 Feb 28, 5:19pm
Tenpoundbass says
Unlike the user Bitcoin, I do not advocate speculating. I do not believe that the current crypto paradigm is the future e-Gold.
On that note, however, why spend your dividend checks on re-investing in overpriced Exxon-Mobil, Proctor & Gamble, etc, shares? That money will return to your brokerage account, every quarter, as long as those shares stay in your account.
Since we have a crypto 'bullish channel' inside a type of soon-to-be, but not quite yet, secular bear market, make that re-occurring blue chip revenue work to your favor. Sure, if you're ultra conservative then just use those overpriced equity dividends to buy more Altria, British-American Tobacco, & Rio Tinto and forget about it.
I made thousands with Let's Go Brandon Coin, send me $100 and I will show YOU, how I did it!
Call me NOW!
Unlike the user Bitcoin, I do not advocate speculating. I do not believe that the current crypto paradigm is the future e-Gold.
On that note, however, why spend your dividend checks on re-investing in overpriced Exxon-Mobil, Proctor & Gamble, etc, shares? That money will return to your brokerage account, every quarter, as long as those shares stay in your account.
Since we have a crypto 'bullish channel' inside a type of soon-to-be, but not quite yet, secular bear market, make that re-occurring blue chip revenue work to your favor. Sure, if you're ultra conservative then just use those overpriced equity dividends to buy more Altria, British-American Tobacco, & Rio Tinto and forget about it.
11
SoTex
2022 Feb 28, 8:33pm
SoTex
2022 Feb 28, 8:33pm
Rin says
Or tradingview.com
I just use the free version but with that you can use 3 indicators at a time.
I'd buy it but I don't have time to trade during the day, nor post on patnet. I'm still a working schlub.
I believe most charting tools allow you to create Fib levels, like stockcharts.com.
Or tradingview.com
I just use the free version but with that you can use 3 indicators at a time.
I'd buy it but I don't have time to trade during the day, nor post on patnet. I'm still a working schlub.
12
Rin
2022 Mar 1, 9:32am
Rin
2022 Mar 1, 9:32am
FJB says
This strategy is a swing/intermediate time frame type of trade & doesn't require being glued to the monitor.
One can put in a limit order, before or after work & use saved triggers which can exit the position at if the price drops below 24. And likewise, vice versa, if the price hits 64.
And two, use only your dividend income where you'll see that money re-emerge in the future, i.e Exxon-Mobil, Proctor & Gamble, not money you use in your day-to-day life. For me, that was $42K from those overpriced blue chips. Regardless of how the trade goes, I'll see that $42K replenished come 2023 spring.
And yeah, if this only works once, I'll re-direct my gains towards Altria, British-American Tobacco, & Rio Tinto when it's all said and done.
I'd buy it but I don't have time to trade
This strategy is a swing/intermediate time frame type of trade & doesn't require being glued to the monitor.
One can put in a limit order, before or after work & use saved triggers which can exit the position at if the price drops below 24. And likewise, vice versa, if the price hits 64.
And two, use only your dividend income where you'll see that money re-emerge in the future, i.e Exxon-Mobil, Proctor & Gamble, not money you use in your day-to-day life. For me, that was $42K from those overpriced blue chips. Regardless of how the trade goes, I'll see that $42K replenished come 2023 spring.
And yeah, if this only works once, I'll re-direct my gains towards Altria, British-American Tobacco, & Rio Tinto when it's all said and done.
With that stated, it's clear that the stock market is overpriced and thus, why bother re-investing those ConEdison & Chevron quarterly dividends when huge discounts are awaiting after the crash?
I say, it's time to be both a cynic and a trader at the same time. So while user Bitcoin has a belief that e-gold is around the corner, I'm not all that convinced that this current paradigm of BTC & ETH, being the next generation's Cisco or Nvdia, is written in stone. Instead, there'll be some blockchain carnage before some operational paradigm comes to fruition.
And yet, as a realist, it's hard to deny what's happened during the age of money printing ...
For the past year, when BTC reached its first breakout high in Mar 2021, it's been forming a bullish channel, ever since.
That mean a major sell off, results in a higher lower, with the consequential run up, leading to a higher high.
Many of us have cash from the basket of blue chips, so why not use the bullish channel to make 2-3 month bets on the futures market, using ETF, like XBTF, and get a slice of the re-test of BTC's 64K level & do pretty well between now and tax day?
Realize, this is money that you'll get, every single quarter for the rest of the time you own those blue chips. If you can't risk even a single business quarter of it, then you're living too close to a paycheck-to-paycheck retirement scenario.
And yes, if BTC falls after tax day and holds the bullish trendline and the same Russell 2000, EURUSD, & GBPUSD hold their ground as before, then you can re-play the same trade.
But don't stop the DRIPs on stocks which have had their prices knocked down regularly like Altria. Use the dividends from those blue chips that have already had their run at the top.