OT: Crypto, Stocks, Bonds, Real Estate, Investments, IRAs & Finances, etc.

[NYKinMIA]

Everyone trying to connect on Zksync tells me this probably isn't the way to do it

What I did instead was trade on zigzag https://info.zigzag.exchange/

I'll check it out. Thanks

[Stannis]

I want to tell you everything is going to be ok but I would be lying lol.

Think we have started at least a several month correction for BTC which may drag other coins down, dating back to mid-November.

If alts start running here with BTC not doing much, this may be the last hurrah.... the plan is to sell everything when it goes up like crazy soon. If everything goes down together slowly, there is a much better chance that the market will probably make a full recovery.

I am honestly more worried about the legacy markets, seems like whenever a ton of CEOs start quitting or selling in unison there is going to be a crash coming which will drag the world economy down with it including of course crypto.

I was mostly surprised that it dropped so much in a short amount of time. My friend texted me, so I bought more BTC @ 44k lol.

You seem pretty bearish overall. You don't think this could just be quarterly/yearly rebalancing?

The best way to make it in crypto IMO is to sell when things are high even if you think they can go higher, because you know for sure it's gonna dump at some point at which point you can buy it back for much much lower so you can recycle the process

Being bearish means I want to buy it lower and typically the length of bearishness can be timed if you look at how the cycles work

The only thing I wouldn't operate this way with is BTC as I feel that has real chance to be a lower volatility product over time and typically everything tends to flow into it

The only alt coin I have is Polkadot. I probably should have took some off the table when it hit the 40s.

Does your strategy still apply to ETH?

Do you ever sell BTC?

[Garbagelo]

I was mostly surprised that it dropped so much in a short amount of time. My friend texted me, so I bought more BTC @ 44k lol.

You seem pretty bearish overall. You don't think this could just be quarterly/yearly rebalancing?

The best way to make it in crypto IMO is to sell when things are high even if you think they can go higher, because you know for sure it's gonna dump at some point at which point you can buy it back for much much lower so you can recycle the process

Being bearish means I want to buy it lower and typically the length of bearishness can be timed if you look at how the cycles work

The only thing I wouldn't operate this way with is BTC as I feel that has real chance to be a lower volatility product over time and typically everything tends to flow into it

The only alt coin I have is Polkadot. I probably should have took some off the table when it hit the 40s.

Does your strategy still apply to ETH?

Do you ever sell BTC?

At this time, I am only holding BTC for long term, won't sell for years

My DOT has been placed in crowdloans or sold right after we broke 50 dollars

Sold ETH as well recently

Will be looking to use those profits to load up when I think the market is ready to move up, still holding some metaverse/game tokens

Think the market may give a bounce next weekend but all my signs point to mid February at the latest if it isn't already a bear market

[Garbagelo]

Read on Twitter

[stuporman]

I'm someone who trades forex and have been eyeing crypto a little bit, thought I might drop a few bucks here and there to see if I can use my understanding of technicals and trends.

Though, I have no idea which broker/app/wallet and such would be good ones to use and which are sketchy. I've read some articles and lists online but they seem pretty generic, not enough specific info for me to make a decision on and they pretty much suggest most of the same half dozen names so maybe just one of the bigger names are pretty safe to work with.

Any advice on which some of you guys prefer and what I should be looking for or looking out for to ensure safety/security the best I can? I'm not looking to be too active but I want to be able to access what I have and bull/sell when I want to. Some things I may hold a long time some swing a little. I don't need to trade thousands of different kinds, there's just a couple dozen I see as potential ones I'd work with if I were to.

I understand the nature of risk, like I said I trade forex, don't trade what you cannot afford to lose. I'm just not wanting to deal with a broker/app/wallet that winds up being a hassle to work with, the trading I can handle but don't want someone messing with my money in some way.

[Garbagelo]

I'm someone who trades forex and have been eyeing crypto a little bit, thought I might drop a few bucks here and there to see if I can use my understanding of technicals and trends.

Though, I have no idea which broker/app/wallet and such would be good ones to use and which are sketchy. I've read some articles and lists online but they seem pretty generic, not enough specific info for me to make a decision on and they pretty much suggest most of the same half dozen names so maybe just one of the bigger names are pretty safe to work with.

Any advice on which some of you guys prefer and what I should be looking for or looking out for to ensure safety/security the best I can? I'm not looking to be too active but I want to be able to access what I have and bull/sell when I want to. Some things I may hold a long time some swing a little. I don't need to trade thousands of different kinds, there's just a couple dozen I see as potential ones I'd work with if I were to.

I understand the nature of risk, like I said I trade forex, don't trade what you cannot afford to lose. I'm just not wanting to deal with a broker/app/wallet that winds up being a hassle to work with, the trading I can handle but don't want someone messing with my money in some way.

It really depends on where you live. Some of these you will be geoblocked. Also it depends on whether you want custody of your coins, which opens up the world of Defi for you if you do.

For complete newbies who just want to buy and sell a few selections of crypto like Bitcoin and Ethereum, you can just use Robinhood. These do not have custody services so they own your coins. Cashapp and Paypal supposedly also offer this and I expect more to come.

For general crypto trading with optional self custody, Coinbase would be the standard. Alternative similar exchanges would be Gemini and Bitstamp.

For trading with more lower liquidity alts also with optional self custody, I usually go with Kucoin. Alternates for this would be Ascendex, MEXC, and of course Binance (Banned in USA)

For derivatives, Bitfinex and Bitmex. There is also an upcomer in LedgerX and of course again, Binance. I suggest staying away from crypto derivatives as they are the most risky as the volatility is unlike any other asset in the world.

If you are able to figure out how to use a web3 wallet then that would open you up for many more opportunities trading decentralized exchanges, my preferred method of trading. I don't want to get into this as there is an actual learning curve to this and is riskier than using a regular exchange.

[stuporman]

I'm someone who trades forex and have been eyeing crypto a little bit, thought I might drop a few bucks here and there to see if I can use my understanding of technicals and trends.

Though, I have no idea which broker/app/wallet and such would be good ones to use and which are sketchy. I've read some articles and lists online but they seem pretty generic, not enough specific info for me to make a decision on and they pretty much suggest most of the same half dozen names so maybe just one of the bigger names are pretty safe to work with.

Any advice on which some of you guys prefer and what I should be looking for or looking out for to ensure safety/security the best I can? I'm not looking to be too active but I want to be able to access what I have and bull/sell when I want to. Some things I may hold a long time some swing a little. I don't need to trade thousands of different kinds, there's just a couple dozen I see as potential ones I'd work with if I were to.

I understand the nature of risk, like I said I trade forex, don't trade what you cannot afford to lose. I'm just not wanting to deal with a broker/app/wallet that winds up being a hassle to work with, the trading I can handle but don't want someone messing with my money in some way.

It really depends on where you live. Some of these you will be geoblocked. Also it depends on whether you want custody of your coins, which opens up the world of Defi for you if you do.

For complete newbies who just want to buy and sell a few selections of crypto like Bitcoin and Ethereum, you can just use Robinhood. These do not have custody services so they own your coins. Cashapp and Paypal supposedly also offer this and I expect more to come.

For general crypto trading with optional self custody, Coinbase would be the standard. Alternative similar exchanges would be Gemini and Bitstamp.

For trading with more lower liquidity alts also with optional self custody, I usually go with Kucoin. Alternates for this would be Ascendex, MEXC, and of course Binance (Banned in USA)

For derivatives, Bitfinex and Bitmex. There is also an upcomer in LedgerX and of course again, Binance. I suggest staying away from crypto derivatives as they are the most risky as the volatility is unlike any other asset in the world.

If you are able to figure out how to use a web3 wallet then that would open you up for many more opportunities trading decentralized exchanges, my preferred method of trading. I don't want to get into this as there is an actual learning curve to this and is riskier than using a regular exchange.

I'm in the US. So one that has self custody would allow me to take my coins to wallet outside of the app without trading them to deposit currency and one that doesn't I would have to trade it back to deposit currency before I can transfer it out?

Is there an online source which you recommend that clearly explains these terms and functions so I can read to learn? Sort of like the dictionary at investopedia which doesn't have a breakdown for crypto stuff but has general investing terms.

Any particular forum you might suggest that has educational discussion not just a bunch of chuckleheads shouting picks and think they are experts that know everything.....well, have limited chuckleheads, I understand they are everywhere on everything *looks at the draft thread*.

Maybe an online source you could recommend for breakdowns and advantages of the different brokers, apps and wallets that isn't so generic which I've been finding in searches and not too impressed with. I guess my newbiness isn't so clear cut so seek some info that they don't provide in newb lists.

Yea, some of the coins are maturing enough that there is price action that behaves somewhat conducive to technical analysis and some that are just too chaotic. The volatility is ok, I understand that crypto has a tendency to break down technicals pretty spectacularly.

Thanks

[Garbagelo]

I'm in the US. So one that has self custody would allow me to take my coins to wallet outside of the app without trading them to deposit currency and one that doesn't I would have to trade it back to deposit currency before I can transfer it out?

Is there an online source which you recommend that clearly explains these terms and functions so I can read to learn? Sort of like the dictionary at investopedia which doesn't have a breakdown for crypto stuff but has general investing terms.

Any particular forum you might suggest that has educational discussion not just a bunch of chuckleheads shouting picks and think they are experts that know everything.....well, have limited chuckleheads, I understand they are everywhere on everything *looks at the draft thread*.

Maybe an online source you could recommend for breakdowns and advantages of the different brokers, apps and wallets that isn't so generic which I've been finding in searches and not too impressed with. I guess my newbiness isn't so clear cut so seek some info that they don't provide in newb lists.

Yea, some of the coins are maturing enough that there is price action that behaves somewhat conducive to technical analysis and some that are just too chaotic. The volatility is ok, I understand that crypto has a tendency to break down technicals pretty spectacularly.

Thanks

Personally, I only googled everything I know in terms of operating wallets, exchanges, etc.

https://www.coinbase.com/learn/crypto-basics I guess there is some super basic info in here but for the most part the best thing you can do for yourself is download the metamask extension from chrome store or whatever browser you use and test out sending crypto.


Market update:

I think people are still bullish on crypto but there is alot of fear in the air

From my technical analysis which I used to predict the top of BTC in April, bottom in July, and top again in November, it tells me that we are going to be in a long downtrend until at least mid February. I believe any up move from now until then will be sold into creating bull traps, unable to make a new high. It makes for a pretty solid trading market but I think many people holding alt coins may get crushed by this.

I do think a sustained price above 53k may resolve this downtrend but it would require at least month of price above 53k. If it is unable to sustain above this price, I would consider it another bull trap.

If the market does not make a new high during the recovery in February, I think it is pretty much over until the next halving cycle, which is in 2024-25

[stuporman]

I'm in the US. So one that has self custody would allow me to take my coins to wallet outside of the app without trading them to deposit currency and one that doesn't I would have to trade it back to deposit currency before I can transfer it out?

Is there an online source which you recommend that clearly explains these terms and functions so I can read to learn? Sort of like the dictionary at investopedia which doesn't have a breakdown for crypto stuff but has general investing terms.

Any particular forum you might suggest that has educational discussion not just a bunch of chuckleheads shouting picks and think they are experts that know everything.....well, have limited chuckleheads, I understand they are everywhere on everything *looks at the draft thread*.

Maybe an online source you could recommend for breakdowns and advantages of the different brokers, apps and wallets that isn't so generic which I've been finding in searches and not too impressed with. I guess my newbiness isn't so clear cut so seek some info that they don't provide in newb lists.

Yea, some of the coins are maturing enough that there is price action that behaves somewhat conducive to technical analysis and some that are just too chaotic. The volatility is ok, I understand that crypto has a tendency to break down technicals pretty spectacularly.

Thanks

Personally, I only googled everything I know in terms of operating wallets, exchanges, etc.

https://www.coinbase.com/learn/crypto-basics I guess there is some super basic info in here but for the most part the best thing you can do for yourself is download the metamask extension from chrome store or whatever browser you use and test out sending crypto.


Market update:

I think people are still bullish on crypto but there is alot of fear in the air

From my technical analysis which I used to predict the top of BTC in April, bottom in July, and top again in November, it tells me that we are going to be in a long downtrend until at least mid February. I believe any up move from now until then will be sold into creating bull traps, unable to make a new high. It makes for a pretty solid trading market but I think many people holding alt coins may get crushed by this.

I do think a sustained price above 53k may resolve this downtrend but it would require at least month of price above 53k. If it is unable to sustain above this price, I would consider it another bull trap.

If the market does not make a new high during the recovery in February, I think it is pretty much over until the next halving cycle, which is in 2024-25

Yea, thanks for the coinbase source, I found that before and it's a nice starter to get an idea but I guess the type of info I'm looking for is intermediate level and probably going to have to figure much of it out on my own. Internet search engines don't really get me to that stuff either without filtering a ton of noise, to learn it with forex it took quite a bit of forum reading to find it or figure it out on my own.

On the market analysis one thing I can say is the whole crypto market goes as BTC goes, it's the head of the snake and most of the market correlates to what it's doing so it's smart to keep an eye to that chart to get the sentiment of the crypto market as a whole.

I see that level at 53.2 and I'd agree there's some bear pressure that will prossibly test the Dec4th spike bottom at 42.3 with a potential overall bottom of this channel when the descending trendline converges with a horizontal level, like the 53.2 level, at 40.7 sometime in the next few weeks. Then I suspect it will move back up to retest 53.2. I'd wait for the bottom test and reject before rejoining for the retest of 53, it will give some nice gains even if it doesn't break the retest.

The window from 40.7 to 42.3 could give some good opportunity to rejoin on the way back to the 53.2 test but obviously it's better to wait for bottom confirmation, multiple retests without breaking it meaning closes below it, otherwise someone would be waiting underwater longer if it breaks and stays below that level though it seems unlikely it will do this it may do it.

Although, I do have to say there is a longer ascending trendline that anchors off the dec2020 area and got set by the july bottom which may have been the reason for the dec4th spike rejection at that level. This ascending line may corral the price upward and it never tests the spike bottom. This upward trendline is around 45.5ish now and obviously creeping up so we may not see it drop below this area before it retests 53.2. If price establishes below this trendline it signals that the test lower may be in order.

This is the nature of technical analysis... alot of maybe this, maybe that at this level or that level based on a bunch of lagging indicator crisscrossing lines and we watch price action to tell us what's what. It's probability guessing and anyone who suggests what they 'know' what will happen is just psychologically and possibly financially invested in their own guess.

[stuporman]

I see today that BTC bounced off that old ascending trendline really hard with a 3000+ move, that's a strong indicator traders are respecting it. There's a reasonable possibility we will see a narrowing channel of price action between the rising trendline and the 53.2 level.

[NYKinMIA]

Lot's of renewed positive sentiment following the FOMC announcement.

Is this just a bit of a relief bounce? Do we come back down hard and fast?

[coopnyc74]

Info is all over the place, any advice on getting started in NFT's?

[Garbagelo]

Apple dying

[robillionaire]

Apple dying

nah it isn't zoom out

[br7knicks]

Apple dying

nah it isn't zoom out

I don't think they're dying, but their PE is ridiculously high. They, and everyone else, will correct soon.

[Garbagelo]

back to crypto:

Think we are in what looks like another defi season, Defi winter? This time it is oriented around stablecoin yield, which is what Curve is all about.

I picked up some CRV and CVX. Also gambling on super small cap BENT. This is in addition to SPELL, which I see huge potential for. Other things that might make it FLX and BANK, all have that decentralized stablecoin narrative.

[Stannis]

back to crypto:

Think we are in what looks like another defi season, Defi winter? This time it is oriented around stablecoin yield, which is what Curve is all about.

I picked up some CRV and CVX. Also gambling on super small cap BENT. This is in addition to SPELL, which I see huge potential for. Other things that might make it FLX and BANK, all have that decentralized stablecoin narrative.

I'm already up 10% on your SPELL recommendation, thanks.

On top of that I only hold, BTC, ETH, and DOT. As a passive investor, do you think I should add some SAND? Or wait for a dip on that one?

[Garbagelo]

back to crypto:

Think we are in what looks like another defi season, Defi winter? This time it is oriented around stablecoin yield, which is what Curve is all about.

I picked up some CRV and CVX. Also gambling on super small cap BENT. This is in addition to SPELL, which I see huge potential for. Other things that might make it FLX and BANK, all have that decentralized stablecoin narrative.

I'm already up 10% on your SPELL recommendation, thanks.

On top of that I only hold, BTC, ETH, and DOT. As a passive investor, do you think I should add some SAND? Or wait for a dip on that one?

I still think Sand goes back to 3 dollars. To be honest, the chart of sand doesn't scream at me as something that is about to go back up immediately. Of course, it may recover with BTC for a while if BTC does recover.

At this point I think the narrative has slightly changed regarding play to earn which often happens in this space. Very big voices have gone against it and seems to be having some sort of ripple effect. Even more obvious is some obviously high quality new play to earn projects coming out and has absolutely no interest from anyone! The market might be saturated, supply has outpaced demand. However, I still think over the long term this is a very good investment opportunity.

Of course people will forget quickly or they may just abandon everything altogether if BTC decides to nosedive. For the time being, I have also sold my ETH and DOT as I think the reward to risk ratio is no longer worth it, I need more risk! Currently holding BTC only as a major. I put my ETH and DOT profits into CRV, CVX, SPELL, FLX, BANK, and GLCH. Looks like BENT got hacked so it has crashed and burn, RIP my money LOL but a gamble is a gamble.

[Stannis]

I still think Sand goes back to 3 dollars. To be honest, the chart of sand doesn't scream at me as something that is about to go back up immediately. Of course, it may recover with BTC for a while if BTC does recover.

At this point I think the narrative has slightly changed regarding play to earn which often happens in this space. Very big voices have gone against it and seems to be having some sort of ripple effect. Even more obvious is some obviously high quality new play to earn projects coming out and has absolutely no interest from anyone! The market might be saturated, supply has outpaced demand. However, I still think over the long term this is a very good investment opportunity.

Of course people will forget quickly or they may just abandon everything altogether if BTC decides to nosedive. For the time being, I have also sold my ETH and DOT as I think the reward to risk ratio is no longer worth it, I need more risk! Currently holding BTC only as a major. I put my ETH and DOT profits into CRV, CVX, SPELL, FLX, BANK, and GLCH. Looks like BENT got hacked so it has crashed and burn, RIP my money LOL but a gamble is a gamble.

I do appreciate all the knowledge you drop here. I can't thank you enough. Especially as a more passive investor with limited to no knowledge in Crypto. If it wasn't for your comments in here, I'd probably just be in BTC and ETH lol.

It's too bad I didn't buy more SPELL. After your mentioned it; I bought it, and I'm already up over 30% on it in a little over a day! I'm curious if you would take profits after a quick jump like that? Or are you continuing to hold?

I know you said you left DOT and ETH because you want more risk. But do you think those are still ok holds for a passive investor like me? I'm getting some staking bonus on the DOT as well. I might just leave it if it goes over 40 again, which I think will happen after the New Year.

I'll probably just add SAND to my watchlist and buy around $3 dollars if it ever happens, so I have some exposure to gaming NFTs/meta.

[NYKinMIA]

I still think Sand goes back to 3 dollars. To be honest, the chart of sand doesn't scream at me as something that is about to go back up immediately. Of course, it may recover with BTC for a while if BTC does recover.

At this point I think the narrative has slightly changed regarding play to earn which often happens in this space. Very big voices have gone against it and seems to be having some sort of ripple effect. Even more obvious is some obviously high quality new play to earn projects coming out and has absolutely no interest from anyone! The market might be saturated, supply has outpaced demand. However, I still think over the long term this is a very good investment opportunity.

Of course people will forget quickly or they may just abandon everything altogether if BTC decides to nosedive. For the time being, I have also sold my ETH and DOT as I think the reward to risk ratio is no longer worth it, I need more risk! Currently holding BTC only as a major. I put my ETH and DOT profits into CRV, CVX, SPELL, FLX, BANK, and GLCH. Looks like BENT got hacked so it has crashed and burn, RIP my money LOL but a gamble is a gamble.

back to crypto:

Think we are in what looks like another defi season, Defi winter? This time it is oriented around stablecoin yield, which is what Curve is all about.

I picked up some CRV and CVX. Also gambling on super small cap BENT. This is in addition to SPELL, which I see huge potential for. Other things that might make it FLX and BANK, all have that decentralized stablecoin narrative.

Good shyt as per usual fam! Appreciated.

I see you mentioned SAND's chart. Do you do your own deep dive type TA? LOL
I've recently been bit by the TA bug and I'm loving it.

I'm reading and watching everything I come across. Wondered if you had any recommendations of sites, or YT vids, or anything really, that you've found to do some good TA learning?