$2x Bitcoin Strategy ETF (BITX.US)$ 35.6 is a buy... it's si...
$2x Bitcoin Strategy ETF(BITX.US$ 35.6 is a buy... it's sitting right on its intermediate term moving average right now.. it hasn't broken this support line going back to October of last year. upside resistance would be $58 that shows you how much upside potential there is. $44 is the short-term bounce back that would be a resistance if it breaks that it could go to the 58 level. I don't believe it's going to get there immediately but there's an enormous snapback coming alternatively if it breaks by any significant amount this support line that it's on now if it goes down $34 it's a $13 support line is the next point there's nothing in between.
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10baggerbammOP : well I sure was completely wrong to me what I'm observing is Bitcoin is supported worldwide and then when the US futures and the US market starts training at 4:00 a.m. it starts getting slammed so the federal government sees several billion dollars worth of bitcoin and initially they said that it was all returned I find it very hard to believe I find it very hard to believe virtually anything that comes out of this current administration is pretty much all lies and I suspect that they're the ones that are selling it because the blocks that I see sold are 9 Bitcoin each time are being dumped and they're being dumped into a downward trend if you own it you're trying to preserve your wealth you don't do that if you're trying to break support although asset to pump up your own fiat currency the US dollar you do that so I suspect it's the government that's been dumping and will continue to dump
Hiroumi : Government is limited to sell 9 coins at a time?
10baggerbammOP Hiroumi: know that there is no limit to what they can do it's just what I've observed and it doesn't mean it's going to happen again but that's what I observed and I'm speculating that that's who it was because I don't believe in individual who would act rationally would sell into weakness with that amount of size on a repetitive basis
10baggerbammOP 10baggerbammOP: and let me elaborate a bit further. let's suppose there was a rationale behind this from this entity that they wanted to reduce inflation you can reduce inflation by taking wealth away from people how do you do that reduce the value of their portfolio what they own well you can't seize it but if the value goes down because the underlying asset goes down people are less inclined to buy goods and services. and that lowers consumption which lowers inflation. now that is really far reaching and I don't believe there's any altruism behind this party that's dumping.