TallTim📈📉💰 @[email protected]

#Bitcoin #ta Surprisingly, the Daily indicator sets flipped to the Bull side. This is encouraging, at least on the longer-term horizon for the Daily. The shorter term charts are still digging out, so it may take a bit for this to kick in. If I get whipsawed on this, I'll sit it out until the next signal, as I usually do. We've taken some pretty hard hits, it would be nice to get some retrenchement here, grinding higher. Upper target is now 7000.

#Bitcoin #ta Small update, lower target updated to 3700. We fell out of the Monthly triangle, and honestly the magnitude was quite impressive, even to a veteran like me. I'd like to think this is a capitulation low spurred by margin calls in other markets and general panic. Until the Daily flips back to the Bull side on my indicators, I can't start being hopeful--especially as the weekly will likely flip to the Bear side as the bar closes. (Its delayed due to timeframe.)

From #BCash land - don't worry, if you don't want to contribute to the dev tax, you have the choice to burn your block rewards instead.
"they has[sic] the right to send this part of coinbase to BCH Black Hole address to destroy these coins"
Ref #3 "No Donation Option" -- https://read.cash/@Jiang_Zhuoer_BTC.TOP_CEO/bch-miner-donation-plan-update-a45daad6
How big of those sleazebags, if you don't feel like being coerced, you're forced to "donate" to everyone by burning coins! Perfect.

This post says it all about the BCash tax -- https://www.reddit.com/r/btc/comments/esoi5s/ama_jiang_zhuoer_author_of_infrastructure_funding/ffbkmgk/
And make no mistake, this is a tax on the BCash mining ecosystem that wasn't put up for debate or a vote. Roger Ver makes big noises about hating centralized govts and the tax man, but he sure doesn't mind if he's the arbiter. What a sleazy con-man. I think this will be the start of their miner death spiral - and ultimate centralization between three mining pools.

Good breakdown on the #bcash "upgrade" that allowed in its wake a 51% attack by the two top miners to collude and choose which tx's to accept -- https://twitter.com/TheCryptoconomy/status/1131962447823278080
Its what we suspected all along, that #bcash is a centralized forking mess, that allows a few bad actors to enforce their rules on the participants.

#Bitcoin #ta Surprisingly, the Daily indicator sets flipped to the Bull side. This is encouraging, at least on the longer-term horizon for the Daily. The shorter term charts are still digging out, so it may take a bit for this to kick in. If I get whipsawed on this, I'll sit it out until the next signal, as I usually do. We've taken some pretty hard hits, it would be nice to get some retrenchement here, grinding higher. Upper target is now 7000.

Longer read than usual, but I suspect many will have the opportunity to peruse it -- https://creditbubblebulletin.blogspot.com/2020/03/weekly-commentary-please-dont.html
The super bubble has popped, and he lays out in precise detail why what we are seeing is the beginning of the end of confidence in Central Banks and govt institutions.
Dow Futures opened on Sunday limit-down -5%, indicating another wild ride in store. Got #Bitcoin ? Its getting very real out there.

I can hear a guy singing off-key from his room upstairs. You know what? Keep on singing man, I don't mind. Got to do something during the lockdown. You go, brother!

CoinMetrics confirms what I suspected, that short-term holders were the majority of sellers over the past week. BItmex and Huobi were full of overleveraged n00bs blowing out of their positions.
https://coinmetrics.substack.com/p/coin-metrics-state-of-the-network-30a
Bitcoin days destroyed also confirms that long-term holders didn't even blink at this decline.
#Bitcoin #trading

#Bitcoin #ta Small update, lower target updated to 3700. We fell out of the Monthly triangle, and honestly the magnitude was quite impressive, even to a veteran like me. I'd like to think this is a capitulation low spurred by margin calls in other markets and general panic. Until the Daily flips back to the Bull side on my indicators, I can't start being hopeful--especially as the weekly will likely flip to the Bear side as the bar closes. (Its delayed due to timeframe.)

#Bitcoin #ta Regretfully my lower target of 7k has been punched through rather decisively. I gain no pleasure from this, but now I must cast my gaze at the monthly chart and adjust my targets. The large monthly triangle we've been oscillating in has been violated. Unless we regain 7240's before the end of the month, that is. My new target is around the 4-Year moving average, which is 5280's. Below this we're looking at some rather grim milestones. RobinHood margin calls, anyone? Its a mess.

Cool article on Bitcoin seasonality, and heatmaps for determining volatile time periods, etc.. -- https://medium.com/interdax/seasonality-in-bitcoin-examining-almost-a-decade-of-price-data-abf47b1421cb

I don't know if they're incorporating any Covid-19 data in their sets for solutions, but decided to allocate some CPU/GPU time to [email protected] since I've got extra capacity. https://foldingathome.org/ Client allows you to gate your participation to number of cores of either CPU/GPU if needed. Pretty cool.

I wonder how much of the world is run by drug cartels. Illegal and legal. The amounts must be insane for both.

Proof-of-Stake sucks. Why? Look at Steem. Justin of TRON is trying to buy them out and control their future, so he's staking a crapload of tokens to force it down users throats -- https://www.coindesk.com/why-crypto-should-care-about-justin-suns-steem-drama
And this is on top of the fact that the Steem blockchain has frozen up before. The users wanted to fork out from it, but they can't -- because they don't have the most coins.
Just like the real world -- deepest pockets win. #Steem #Steemit #TRON

#Bitcoin #ta I hate being right on the downside. We've breached my prior target of 8800 in 24 hours, so I must move my target lower.
Just so you understand the bigger picture, here's a Monthly chart with a large triangle I've been looking at, attached below.
This means to me that my worst case is a lower target of 7000. Its my theory we oscillate in this pattern until after the halving. So, a bit of a roller coaster ahead, I'm afraid.

#Bitcoin #ta We've slumped enough that its fed back into the Daily timeframe. So I'm currently Bearish looking at the lower price level of ~8800. Seems we're in a huge oscillating triangle in the monthly and haven't had enough strength to push outside of it to the upside. With the coronovirus raging, makes me wonder if there's ancillary effects from people needing funds to buffer themselves from quarantined shutdowns.

Vitalik Buterin presents his "ETH 2.0" roadmap. He wants to introduce Proof-of-Stake network as a separate entity at first (cold feet?) to prove itself. Guess how much it costs to be a full validating node on that network? Oh, about $8595 USD at current prices, or 32 ETH. PoS looks like a centralizing wedge in his plan, and we haven't even seen what sharding will do yet.
Ref -- https://cointelegraph.com/news/vitalik-buterin-reveals-ethereum-20-roadmap-to-cointelegraph
What a shitshow...

Peter Thiel is leveling the playing field with China. About damn time -- https://www.theblockcrypto.com/post/56337/peter-thiel-texas-bitcoin-mine-goes-live
Best part, the plan to expand includes NOT buying gear from Bitmain. Another plus, in my book.

From #BCash land - don't worry, if you don't want to contribute to the dev tax, you have the choice to burn your block rewards instead.
"they has[sic] the right to send this part of coinbase to BCH Black Hole address to destroy these coins"
Ref #3 "No Donation Option" -- https://read.cash/@Jiang_Zhuoer_BTC.TOP_CEO/bch-miner-donation-plan-update-a45daad6
How big of those sleazebags, if you don't feel like being coerced, you're forced to "donate" to everyone by burning coins! Perfect.

Thank you Irish Drug Dealer, you just burned ~6,174 BTC because you were an idiot about storing your private keys -- https://www.theguardian.com/world/2020/feb/21/irish-drug-dealer-clifton-collins-l46m-bitcoin-codes-hid-fishing-rod-case
I salute your sacrifice in making my coins that much more valuable.