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Thread: Bitcoin rallies $1,200 this morning. Sits at $20,600

  1. #21
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    1 Bitcoin equals
    22,854.40 United States Dollar


    Dec 17, 10:09 AM UTC
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  2. #22
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    1 Bitcoin equals
    23,214.90 United States Dollar
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  3. #23
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    Quote Originally Posted by Cotton1 View Post
    1 Bitcoin equals
    23,214.90 United States Dollar
    Sell or hold? Or a combination of the two?
    ΜOΛΩΝ ΛΑΒΕ


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    Cotton1 (12-17-2020)

  5. #24
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    Quote Originally Posted by Peter1469 View Post
    Sell or hold? Or a combination of the two?
    Combination. Selling 1-2 and holding 9-10.

    Buying a few put options to hedge against a hard selloff. I dont want to create a taxable event this close to the end of the year by selling out.

    Im also still long term bullish so I am trying to stay in the position without incurring undue risk. I cant eliminate all of the risk but I can minimize it.

    With the proceeds from the sell of 1-2 (probably 2)

    #1 I'm going to hedge with put options.

    #2. Diversify into Etherium. $600 each + or -

    #3. Litecoin. $100 each + or -

    #4. EOS. $4 + or -

    #5. XRP ( ripple) at .60 cents + or -

    They each serve different crypto functions.



    #3. Litcoin
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    Madison (12-26-2020)

  7. #25
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    A parabolic price rally in most any investment vehicle signals the intermediate to long term personality of the vehicle to typically have greater swings in both directions for a while.

    Futures contracts and option derivs on BTC will likely enhance this.

    This latest move was enabled by a variety of factors but from a technical standpoint the stage was set mid 2020 with a prolonged sideways consolidation between 9k and 11k.

    The longer the consolidation in a sideways manner the heater the move up or down when the consolidation price range is finally violated.

    BTC is a different animal but people have been and always will be the same animal they have always been.
    Emotional creatures that allow said emotions (fear, greed) to rule them. As for me? I have neither. I just like to win.

    A Fibonacci 1 price break could hammer the price from the $23,700 high to the mid $17k's on a whim.

    In fact it would be healthy longer term as it shifts holdings into what are typically stronger hands.

    Less healthy would be a Fibonacci 2 blowout to $14-15k. However, that's still double what it was a year ago and would likely consolidate between the Fibo 1 and 2 range for a good period of time.

    Even less healthy would be a continuation of the current exponential positive price action without a breather.

    The trade needs to pull back and consolidate around $17-18k for a while.

    We shall see.

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    Madison (12-26-2020),Red Lily (12-18-2020)

  9. #26
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    Quote Originally Posted by Peter1469 View Post
    Sell or hold? Or a combination of the two?
    Sold two @ 23,075
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    Madison (12-26-2020)

  11. #27
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    Here we go again. Can't keep a good crypto down!

    1 Bitcoin equals
    23,762.70 United States Dollar
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  12. #28
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    Merry Christmas!

    Bitcoin up 3% at $24,100
    Litecoin up 11% at $119.

    Even though crypto is a global 24/7/365 marketplace I think it's a correct statement to say the volume is still a bit light being a holiday.

    Easier to push and shove in either direction on days as such. Thank God I'm the "pusher and shover" as opposed to the "pushed and shoved".

    Thank you , baby Jesus ! Hope you are long Bitcoin on your birthday !
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  14. #29
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    Quote Originally Posted by Cotton1 View Post
    Merry Christmas! Bitcoin up 3% at $24,100Litecoin up 11% at $119. Even though crypto is a global 24/7/365 marketplace I think it's a correct statement to say the volume is still a bit light being a holiday. Easier to push and shove in either direction on days as such. Thank God I'm the "pusher and shover" as opposed to the "pushed and shoved". Thank you , baby Jesus ! Hope you are long Bitcoin on your birthday !


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  15. #30
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    1 Bitcoin equals
    24,933.30 United States Dollar (was $24,100 this morning )

    Litecoin equals
    131.62 United States Dollar (was $108 yesterday
    Last edited by Cotton1; 12-25-2020 at 10:46 PM.
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