/biz/ - Business & Finance

>>54214645
checked. it's more bullish than ever. care to explain?

>>54214659
No

>>54214659
It's very bearish. Look at the 1D and 1W Stoch RSI.

>>54214659

>>54214694
crucially important

>>54214800
it's going down but elliot waves are total garbage

>>54215127
Maybe so, but it is a frame of reference, probably better than driving blind, and I'm not married to it. I wouldn't use it as my only indicator.
In the end, up or down, it's 50/50, and most TA is post-hoc analysis of something that's already occurred. Just pick a model that fits the current macro trend and you look like Nostradamus. Plenty of grifters do it.

>>54214680
Based
a
s
e
d

>>54214800
oh no not the 15min chart
how will bulls ever recover

>>54214694
>look at this indicator that shows what i want
I accept that argument but look at this line intersecting the 1 week downtrend, looks like I win

>>54214645
N-No.

>>54214645
Institutional investors have pulled funds out of trad banks and moved them into BTC short term bullish

>>54215429
Fascinating. Can you tell me which financial institutions they used to facilitate this transaction?

>>54215395
Some trends are hidden on larger time frames; it depends on what you're trying to achieve. If you're just holding, yeah, chances are, we are in a macro uptrend. If you're swing trading, you want all the info available to try and see shifts in momentum.

>>54215457
>can you show us how the wealthy launder their money in specific
No I can't do that

>>54214645
are you bobo or mumu

>>54215547
The fact is that there is no legitimate financial institution which will touch crypto with a 1000 ft pole. Institutional investors are not buying crypto.

>>54215561
Trannies are hard to tell these days huh?

>>54215399
The Stoch RSI doesn't show what some anon wants, it merely shows the sentiment of the market. That's what it is. It's a visual representation of the will of the market.

>>54215582
Well I guess if there's no "legitimate" way to do it then it's not happening, right everyone?

>>54215608
Yes, it's not happening. Thank you for agreeing with me.

>>54215457
They’re called OTC trading desks. Many exchanges like Binance or Coinbase have them. When large buyers want to place massive orders without causing massive volatility, they make an arrangement to buy Bitcoin ar an agreed upon price per coin. OTC trades are usually arranged from large buyers such as financial institutions or high net worth individuals.
https://yellowcard.io/blog/what-is-crypto-otc-how-does-it-work/

>>54215621
It is happening, I disagree with you. Entirely.

>>54215656
Very cool, prove it.

>>54215662
read your other replies

>>54214645
I just checked it, Bobo! It's great!!!
Thank you for caring about Kaspa's ATH chart.

>>54215682
Anon, it's ok. You don't have to keep up the ruse anymore. Everyone knows why btc is pumping.

No institutional investor is dumb enough to invest in crypto through a shady peer to peer trading system.

>>54215740
Don’t rope, it’s not worth it.
https://www.forbes.com/sites/digital-assets/2023/03/16/amid-crypto-bank-crisis-fidelity-opens-bitcoin-ether-trading-for-retail--accounts/?sh=49a7690d1670

>>54215847
>Clients are not yet able to transfer cryptocurrency to or from their Fidelity accounts. The company said it would be exploring cryptocurrency transfers in November, shortly after announcing the waitlist, but hasn’t provided a clear timeline.

Ooof. And you seemed so confident there. Oh well.

>>54215740
>replies to the wrong reply and ignores the reply he literally asked for
So this isn't even what we're talking about you're just trying to win an argument against my ID? I guess I should feel flattered you care that much

>>54215872
Fidelity still has to buy the underlying asset to ensure backing just as with any other asset.

>>54215950
Right, but why would fidelity and other institutional investors buy 3 billion in tether to then buy the assets instead of just buying them outright with fiat?

>>54215986
They can do either one.

>>54216089
You didn't answer my question. Why WOULD they redeem 3 billion tether(who don't have access to US finance btw) instead of buying with fiat. Because 3 billion unaccounted for tether was minted recently.

>>54216139
Your question doesn’t seem to make sense. Financial institutions would typically just wire US dollars. If you’re asking why the markets are usually most liquid in USDT it’s because it’s a stable global currency that everyone in the world can use. An African, Lebanese, Turkish, Venezuelan don’t have access to dollars, so USDT is a very convenient alternative that’s redeemable 1:1. As far as printing tether. So? That’s how it maintains its peg, constantly burning and printing units to maintain a $1 valuation. $2.3 Trillion US dollars went missing the day before 9/11 but that doesn’t bother you does it?

>>54216239
No, I'm saying that USDT has no stable access to US dollars and therefore cannot be 1:1 backed.

They tried to get banking through AML but SBNY stopped that with a quickness as soon as they figured out what was happening.

>>54215582
>>54215621
>no institutional money is going to cryptocurrency
>btc goes from 18k to 28k in less than a month
Pick one and ONLY ONE!

>>54216339
And by AML I mean the jet fuel company the was used as a cover for bitfinex/tether. Not anti-money laundering.

>>54216339
Assuming you are correct and USDT is completely worthless and not backed by anything. Couldn’t you say the same of the US dollar? It’s literally backed by nothing and printed from thin air. The US dollar itself is just a monetary peg to track the amount of capital an individual generates/earns and can be redeemed at stores, gas stations, banks, online, etc because the it’s agreed upon by society. Assuming USDT is still a worthless fake currency, you can still argue it’s a good peg that tracks the amount of capital someone has access to and is agreed upon as a currency by societies/individuals around the world. People shit on tether so easily, but it’s changing peoples lives for the better in countries like Venezuela, Africa, and Philippines who don’t have the privilege to earn a stable currency like the US dollar.

>>54216413
>People shit on tether so easily, but it’s changing peoples lives for the better in countries like Venezuela, Africa, and Philippines who don’t have the privilege to earn a stable currency like the US dollar.

Ok doke buddy, nice PR piece but people only use tether for 2 reasons: to speculate on crypto without being taxed and to do wash trading.

I think the dollar is pretty shitty too, but USDT is the same kind of bullshit that no one should put their trust in.

>>54216466
People do out their trust in it, and has a net benefit on its users. Get rid of Tether, USDC will take its place, get rid of USDC, another stablecoin will take its places. No matter how much you hate it or how shady some actors are, it’s never going away. Speculation, taxes, muh money laundering etc etc….who cares? Its democratizing money. The days where where authoritarian governments tells you what you can do with your money are slowly dying.