Argo Blockchain Share Discussion Threads

[brasso3] 02/12/2020 20:02

I do not see how ARB can move in a different direction to BTC unless there are operational issues that cannot be predicted with charting.

[hootza616] 02/12/2020 19:53

Well if you don't share SSB only you will know if it was an accurate chart.It wasn't me that asked btw.All I can offer is if your ARB chart goes the opposite way to BTC then there may be something interesting going on with the charts and well worth sharing

[gspanner] 02/12/2020 19:34

SNF not so sure about the btc pullback (though always a possibility, manage your bets!).

Comparing this rally with last one price went above 18k and back below within 4 days. This has lasted much longer, dipped below 18k and returned now consolidating. Whales selling but into hands of institutions who hold (rather than selling back to them cheaper). Think there will be a break above 20k when the whales catch on and buy back as much as they can over next few days and as it rises will pullback but not nearly as large as last rally (for reasons stated above).

[sideshowbull] 02/12/2020 19:08

Pretty sure you don't want my ARB chart whoever asked for it..?

Please remember I have never held 1 ARB so no confusion in the TA well unless I am useless, possible.




What do the other TA boys reckon?

BWTFDIK

[yump] 02/12/2020 19:05

Cup and handle thats the one. Have definitely used that in the past. I’ve always assumed the rationale for it being bullish is the second rise up the right of the cup has not been followed by a sell off.

[suffersnofools] 02/12/2020 18:46

Horneblower - that's not any EW like I've ever seen!

You should have 3 part ABC corrective moves and 5 part 1-2-3-4-5 impulsive up moves. Or have you created a new Horn Wave Analysis :)

[suffersnofools] 02/12/2020 18:42

Hootza - I've given several accurate targets BEFORE they happened on this BB. As well a successful W formation call.

But as I keep saying this is how I make a good living but each to their own :)

We're now 29 hours into this triangle formation. Getting squeezed between 19175 resistance and 18700 support. Come on BTC you can do it!

..and yump it's a Cup 'n Handle formation and one of my faves for recovery plays. lol.

[yump] 02/12/2020 18:08

Hmmm. Its well below the long term trendline if you draw one through the middle of the purple lines. If you flatten it a bit through B and D, those are still mid-channel points - is it forming a 2 1/2 year pennant ?

Now where's me pin...?

[horneblower] 02/12/2020 17:21

ARB's chart suggests we will see 10p again.
However, ARB's chart is a strong reflection of BTC's chart, so it will go wherever BTC goes.

Here's an Elliot Wave interpretation...

[yump] 02/12/2020 13:38

I like the idea of a Moet formation ;-)

Someone did make up some credible ones ages ago - teacup and handle was one - although could have been legit - pecking hen was another - which arb will have if it goes horizontal for a week - very bullish

I could do without any WTF formations though.

[hootza616] 02/12/2020 13:21

In my short experience chartists do themselves no favours by declaring a chart pattern after the event.That WAS a classic double top/bottom, inverse w, Bollinger or Moët, or whatever it may have been.Rarely have I seen a prediction declared and played out other than those that predict ups or downs and then say they called it when it moves in either direction.Only the Chartists know how accurate they have been and good luck to them and everyone else who has a theory that works them. Pin sticking works fine for me!

[yump] 02/12/2020 13:02

I am quite curious though when you say you spent ages developing algorithms and yet its simple ? I get the final decision might be simple.

I think if you’re going to post a lot of references to chart levels etc, then a discussion about chart validity is not drivel.

99% of posts are not exactly in depth thoughts - personally I could do without a constant stream of irrelevant “who bought when” posts, but thats how it is.

[suffersnofools] 02/12/2020 12:32

I make no such claim - quite the contraty - you say it's complex, I say it's simple.

If your 'advanced' pin sticking works then all good. I'm not the one who posts continually trying to discredit TA.

We can agree to disagree and spare the BB more boring drivel :)

[yump] 02/12/2020 12:24

So the world is divided into chartists and non-chartists ? and of course anyone who is a non-chartist couldn't possibly have a method that worked, using a bit of charting.

At least I admit that I have used subjectivity. I could claim a method I suppose.

The only difference between you and me is that you're claiming a method which is so complex that nobody could possibly understand it and I'm not. But it appears both work. For us anyway.

By the way its not pin-sticking, there are a lot of other factors, not just the chart. However you want to view it, any chart is just a reflection of what people are doing - it doesn't have a life of its own dictated by science. Unless you believe in determinism.

[suffersnofools] 02/12/2020 12:14

It's called 'pin sticking' Yump - It's what non-chartists do between banging on about 'fundamentals' :)

[yump] 02/12/2020 12:05

I like simple rules. If its a bull market or a share in a bull trend, then its as simple as buying the dips.

Of course its a bit of a guess, but for instance 4.5p ish October was the bottom of what looked like a general movement upwards.

That has served me well over the years, but only in a bull share/market. Get caught out occasionally of course.

Its especially nice if you get a relatively regular cycle up and down at the start. I suppose it would be interesting to go through a load of shares to see if its actually a useful rule, or whether I've been adding in subjectivity.

[suffersnofools] 02/12/2020 11:41

Most likley will. Dems have already stated they intend to roll back the tax breaks Trump gave to the wealthy.

BTC consolidating under the 9350 level - getting ready for another attempt at it......

[hootza616] 02/12/2020 11:34

Could be worse!

[brasso3] 02/12/2020 10:31

Current US tax rules may not apply in 2021 when Sleepy Joe takes over.

[hootza616] 02/12/2020 10:30

Remember also it's tax efficient for any US buyer to hold BTC for more than a year otherwise gains are taxed as standard income.So maybe there will be more holding through the dips than 2018 when it was essentially outside any tax laws.

[brasso3] 02/12/2020 09:31

There are basically two easy strategies with BTC over the next year:-

1) Buy now, hold, sell in Nov/ Dec 2021.
2) Buy every 25% - 35% pull back over the next year and sell in Nov/ Dec 2021.

What will not be clear going into the next cycle is will it retrace 80% from the highs? This happened on previous cycles as it was predominantly retail investors involved. I cannot see this happening with the institutions/ hedge funds/ NASDAQ companies that are accumulating.

[suffersnofools] 02/12/2020 09:01

I'm expecting next major correction down to 15k in about 10 to 14 days.

As Brasso points out - knowing to expect these moves means you can use them to your advantage.

It of course means that ARB will be highly volatile as well. So buy the dips rather than panic sell them like lots noobs undoubtedly will.

[horneblower] 02/12/2020 09:00

Shows better in log...