Argo Blockchain Share Discussion Threads

[alm6] 15/1/2021 13:49

Interesting, I've only dipped my toe into charting since I started BCT investing in Dec 20. Describing current movements as a C wave made no sense from my understanding of EW. It makes far more sense to me to see it as a 4 wave.

[2tyke] 15/1/2021 13:31

Nico,
You will find that Arb doesn't always follow btc.
The charts are in step ( in phase). But every chart is unique and follows it's own path. They will sometimes diverge because of short-term pattern, even though they will appear to rise and fall together in the bigger moves.
Thus, both arb and btc are currently consolidating lower within a 4th wave.

[russ42] 15/1/2021 13:29

The yanks will be getting fed up with us brits. Every time they build it up,We sell them down the river.Hopefully whoever buys them now holds on for more than a few hours to give it chance for a decent rise. Getting a bit predictable now for the traders.

[nico115] 15/1/2021 13:24

If btc hits 50k we should be 140/150pI think 60p per 10k btc is overly optimistic !!

[2tyke] 15/1/2021 13:22

Alm,
It's the size of the wave which quantifies it, not the time period it occurs over. But, generally waves do tend to happen over 'roughly' similar timeframes, if they are of the same degree of trend.
This is difficult for those who believe in fundamentals. This type of trading is almost extinct now at trading houses.
Almost all trading is technical...because it works.
It has been shown repeatedly in studies that fundamentals has no more success rate than sheer guess-work.
In term of chart patterns..they are not the driving force. The.patterns show the repeating form of investor sentiment, which is the driving force. From the chart we can udentify the probabilistic future moves.

[yump] 15/1/2021 13:01

Or it could be the US that's overvalued.

[kcowe] 15/1/2021 12:56

What price Arb when BTC hits 50k-60k .... BTC has not had a blow off top yet ..look at the charts ,Thats is how bull runs end. With a bang!!!!

[gostaa] 15/1/2021 12:53

@2tyke - thanks for the charting info. Can we have an update on that C Wave as BTC has dropped another $1k today?

[uapatel] 15/1/2021 12:26

Thanks for the link Dorset.

[fozzie] 15/1/2021 12:23

SnF I agree that the US leads us from here on as they pretty much do on all stocks across all sectors. There’s a reason the Ftse is still stuck at six something whilst the SnP powers onto new highs, UK investors will just not buy and hold and buy more. Stocks here are just so undervalued and part of the reason that I have started buying more US stocks. If Arb was on Nasdaq what price?

[mnomis] 15/1/2021 12:20

$32k would be a sweet spot - reload my ARB, and no panic as we went below $30k!

[nico115] 15/1/2021 12:18

For what it's worth I don't see btc below 32k in the near future

[mnomis] 15/1/2021 12:07

I am balanced ... if it goes higher, I will wish I still held more, but still be happy. If goes back below £1, I will increase my holding - next buy at ~95p (my 91p trade Monday turned out ok). Of course if it then keeps falling, I may become nervous, but certainly not my expectation, unless some of these smarter people than me are correct that BTC still has some falling to do before makes new ATH's (and not everyone thinks it will).

At end of day, although ARB chart looks bullish, hard to see this diverging too much if BTC goes sharply lower. Base case still that BTC makes some big new highs later in the year and that Plan B will be proved correct (again) - in which case, would be nice if I can pick up some more sub £1!

Anyway, makes it fun I guess!

[yump] 15/1/2021 12:00

Proactive... that's a sell then.

[nico115] 15/1/2021 11:51

Made me smile !!Let's hope the lemmings don't turn round and have the last laugh and say we were all mad not selling on a 40 foldIncrease in price !!I'm holding as I think bitcoin will be 300k by June but I'm bloody nervous

[crypto nugget] 15/1/2021 11:43

Someone over at LSE on the ARB threads suggesting that central banks and governments will eventually be holding bitcoin.

That's probably if they are not already doing it quietly.

[crypto nugget] 15/1/2021 11:41

Good to see your views and comments again SNF.

[dorset64] 15/1/2021 11:41

Argo are to appear on the Proactive investor platform on Thursday 21st January from 6:00pm.

You can register here to attend:




Below is an example of a previous interview so you can see what to expect in this one:

[yump] 15/1/2021 11:13

Some at 35p Whoohoo... closely followed by Doh !

[nico115] 15/1/2021 11:11

There are no lemmings in the U.K. for selling a company with a market cap of 330m that's as mkt cap of 10mEven you have sold some !! Lol

[yump] 15/1/2021 10:59

What would be handy is some sort of monitoring software to see what proportion of people are following charts. That should be possible if you assume certain trigger points that would induce volume buying or selling from chart followers who are following rules. Then would know whether you can act before they do.

However, we all know that when your own money is involved and you have a button in front of you, fear and greed play havoc with decisions.

Lost count of the number of times I've done a Homer Simpson - Doh ! Whoohoo !

[gspanner] 15/1/2021 10:48

Patterns do occur on charts but are just a pictorial/summary of the psychology of traders at different prices; the chart doesn’t predominately affect the price itself... Though charts are used so extensively these days they partially do I think.

[suffersnofools] 15/1/2021 10:45

I also don't know how anyone can look at the ARB chart and not see a bullish consolidation pattern! A daily close above 127.5p and 200p should arrive very quickly after. Pattern remains in play as long as 80/85 support area holds.

I see UK lemmings are out in force this morning. The US buyers must be incredulous every day when they come back and see we've sold it off again. Really no point watching ARB until US buyers come online as they're driving this from hereon in.

BTC winding up for a big move outside the ever tightening 38300-38700 triangle.

[suffersnofools] 15/1/2021 10:38

Hi 2tyke.

I'm also a big advocate of EW. Although for longer term not short term trades. I also agree that BTC is the most perfect sentiment led asset for applying TA and EW analysis to.

However, I don't agree with your count. The perennial issue with EW being the fact that is considered by many detractors to be too subjective, as it's down to the interpreter to work out the counts. I've just changed by count in light of the recent correction down and now see 72/74 area as next target.

If you want to post up your counts I'm happy to do likewise to see where we differ.