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Back at it, and it seems Bitcoin has affirmed my prior bull call. I'll be adjusting the upper target to 14000 as the big numbers are now in play. Its been interesting watching the large corporate buys and now this breakout. Feels like rally season again...

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Quick note, the indicator sets have flipped to Bull on the Daily. We didn't fall apart on the last push down, which is encouraging. I'll be adjusting the target now to 11200, which is a local peak I've had an eye on. Volatility seems a bit low, so I'm not expecting immediate green candles out of this one. Slow and steady wins the race, after all.

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Interesting thread, as much as I hate twitter -- BCash's Jihan Wu may be in hot water over a bunch of illegal things he's done.
twitter.com/molllliy/status/12
Funny how the BCash shitcoiners have assembled the most sleazy con-men in their wake, from CSW to Calvin Ayre to Roger Ver. Looks like the karma payback is real. This means possibly a bunch of BCash gets dumped, since Bitmain has been the bagholder of that under-performing shitcoin for years now.

Back at it, and it seems Bitcoin has affirmed my prior bull call. I'll be adjusting the upper target to 14000 as the big numbers are now in play. Its been interesting watching the large corporate buys and now this breakout. Feels like rally season again...

Anyone notice @archillect stopped posting on mastodon? Something broke...

Quick note, the indicator sets have flipped to Bull on the Daily. We didn't fall apart on the last push down, which is encouraging. I'll be adjusting the target now to 11200, which is a local peak I've had an eye on. Volatility seems a bit low, so I'm not expecting immediate green candles out of this one. Slow and steady wins the race, after all.

Going to have intermittent online presence going forward here - have to attend to some things that require my full attention. I'll be back in the latter half of October.
So if any Bitcoin moves happen that I haven't responded to, that's the reason why.
I'll post when I can later this month. Take care.

Been away for a bit, and when I come back I see the Daily has flipped Bear, no doubt from the fallout of the Bitmex announcement. Does it mean we could revisit 10k? Yes, unfortunately it could. Magnitude isn't easy, but I'll be adjusting the lower target and keep a weary eye on it....always when I'm traveling, man.

Yes, how ironic, a bit of a downdraft at the moment I'm looking for upward action. In the long-term scheme of things, not so bad. But the suspicion I have is this is part of a big "DeFi" unwind. Many tokens are lower by 5 times, some more than Bitcoin. There is inherent leverage in this space, as staking a bazillion tokens give a certain return. It also doesn't help that USD strength is increasing at the moment. In short, the market doesn't give us what we want right away. Hang on..

Like a rotund sailor tossing and turning in a cramped bunk, we've flipped to the Bull side on the indicator sets. Was a bit faster than I anticipated, but I'll still welcome the change in regime. Upper target adjusted to 12k, we'll see how she goes when trying to punch a previous high. For now, expect the same grind-a-thon we've been in for a bit, volatility still seems a bit low at the moment.

I know, I know. Counter-trend rallies tend to bring out our inner optimist and the desire to throw caution to the wind. "But TallTim, we've gone a bit higher than 50% of the decline!!" you might say, eager to buy in. While emotions may say "yes", my trading discipline says "NO". We are not yet at the point where my indicators give the green light. Yes, this means I may miss portions of a move - but the reduction in risk from top or bottom calling is worth it. Hold your horses...

@martybent has a piece on some organization called "SLiC" that is invoking fear by using FATF guidance to position their product. What is it? Its their "green" mining operation that can provide coins with zero tx history. Every other mining operation can do this, so its pretty low for them to try this angle. I doubt its an "attack" like Marty says -- that would be like trying to stop people from torrenting, and we know how well those efforts have worked. (Not at all.) So, don't worry marty...

The slump did materialize and took out the prior target rather handily. Unfortunately it seems we're going to be in this mode for a bit, so the lower target has to be extended to 9100 as a worst case. I share your dismay at having Bitcoin under the iconic 10k mark, but we've got to work out these swings before the next mega-rally setup.

@verretor The twat that runs the shitcoin.com newsletter included a post by you mentioning the Electrum client malware resulting in loss of BTC. He made it look like it was a BTC problem, not Electrum. Might want to circle back and give this muppet a good verbal thrashing. shitcoin.com/blog/105

Well we've had our fun, but haven't pushed the upper target I had set. Them's the breaks. Looks like slump-town has a chance, Daily indicator sets flipped Bear so my lower target in this flip-flop parade will be around 10500. Just another way to while away the final summer days. Fall is always more interesting when volume comes back.

Well, I issued a challenge and the market accepted. Since we've exceeded my prior target I'm moving to the next significant one -- 13880. There's a bit of resistance to punch through, but it will be worth it when we do. I'll update as necessary...

Bitcoin: 21 million
Ethereum: ¯\_(ツ)_/¯

Okay Bitcoin, you rallying bastard. Looks like I'll have to ante up and get a target going that is massive on the monthly. Adjusting to 12325. There, lets see what you make of that. Honestly though it is the next important high that we have to challenge. Should be interesting.

Given the breakout to the prior target, I'm updating the target slightly to 10500. This is a big deal on the longer-term charts, so it may be a struggle - but well worth it when we break through.

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