Posted on 05/19/2021 6:34:10 AM PDT by zeestephen
"Price Support" means a downward chart pattern that shows very strong buying at certain historical price points when the stock was previously going down...The rationale is that the buyers at those price points were not speculators, and they will not dump their shares during a panic.
(Excerpt) Read more at cnbc.com ...
I have a VISA Debit card in my wallet.
The price I see online is the price I pay.
I’m sure Amazon gets a good deal on merchant card fees.
Only idiots believe in support and resistance lines. They don’t mean shit. Ignore this guy. He doesn’t not know what he’s talking about it. At best he is a failed part-time trader. People who write about trading don’t trade.
Blockchains yes, bitcoin? Meh. It’s rate limited in terms of transactions, making it pretty useless as a means of everyday small payments.
I have a good friend that is heavily invested in bitcoin. Just saw him last weekend and he was still singing its praises although it had slipped to 50K. He is probably not in a very good mood this morning.
Use as currency was always the weakest aspect of block chains. The real growth is in smart contracts, where I am absolutely certain will be used in the next 15-20 years.
I think it was used by people to move money out of their respective countries. Buy Bitcoin with US dollars, move the Bitcoin to a bank in Caymans, exchange for Cayman dollars.
The Exchanges went down.
Fidelity is having trouble too.
I just bought DOT on the dip.
How does one establish the value of these coins?
It'll all come back up.
Hodl.
You are a risk-averse, conservative investor, then.
“It’ll all come back up.”
Come back up to what level, and why?
LOL...
You can go on..and believe what you believe.
I know S & R very well...And it works...
Don't know anything about BitCoin.
Value is established by the market - the consensus of what investors are willing to pay.
HODL
Ping!
Crypto sell off.
Exactly! Technical trading is hogwash.
Just for some clarification, that’s not how cryptocurrency works. It’s simply not possible to ‘clean it out’ which is why governments don’t like it. However, one cryptocurrency in particular, Monero (I think is how it’s spelled), is a favorite of international cyber criminals including the Colonial Pipeline attackers.
There was some significant sell-off on that specific crypto anticipating that the collective regulatory hammer of national governments would really negatively pressure that currency. There is some thought that in addition to the environmental pressures that are really coming to bear on cryptos like Bitcoin and Doge have been exacerbated by the Monero panic leading to this crash.
I disagree.
Look at the Bitcoin one year chart.
$31,000 held up for the entire month of January 2021 under heavy selling pressure.
Today, Bitcoin has already rallied off $31,000 at least three times.
Will it hold?
I have no idea - but anyone who trades anything for a living is going to look at the chart before making a buy/sell decision.
What metrics do you use before making a decision?
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