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    [Daily Discussion] - Saturday, October 16, 2021 Bitcoin Markets

    October 16, 2021

    [Daily Discussion] - Saturday, October 16, 2021 Bitcoin Markets

    [Daily Discussion] - Saturday, October 16, 2021

    Posted: 15 Oct 2021 09:00 PM PDT

    Thread topics include, but are not limited to:

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    • Technical analysis, trading ideas & strategies
    • Quick questions that do not warrant a separate post

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    submitted by /u/AutoModerator
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    Coindesk says the Proshares Bitcoin Futures ETF was Officially Approved... Are they correct?

    Posted: 15 Oct 2021 02:52 PM PDT

    https://www.coindesk.com/policy/2021/10/15/sec-approves-bitcoin-etf-opening-crypto-to-wider-investor-base/

    Their sources are basically hidden. No word directly from the SEC. The link they do give is just to a filing, not an approval, but they say they got an email from the SEC after the commissioners all met and approved it. Yet, no tweet from Hester Pierce about it.

    Two authors at Coindesk penned this article, one claims to be the "regulatory lead" at Coindesk. Man, what to believe here... Could this be a total bullshit article meant to pump the market?

    submitted by /u/maxcoiner
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    Bitcoin Rally Prelude, Bulls Overextended, My Strategy

    Posted: 15 Oct 2021 02:32 PM PDT

    Link to previous post

    In the previous post I mentioned how bullish it would be if Bitcoin broke above a rising channel. Well today that became a reality, so now it's time to remind the trader's not to FOMO. And what I will be doing to ensure I buy in at correct places.

    Updated Bitcoin chart. Just a reminder not to chase big green candles. Bitcoin is booming and its exciting! But make sure to make smart trades. Bitcoin is overextended bullish, which would imply a small correction or at least price settling is due. That should set up for nice potential buys on the retest of the rising channel. There is an enormous wall of buyers waiting on that so it should be strong support.

    If Bitcoin can just cool off it's indicators and track sideways, then there will be some good altcoin trading coming. Best way to track this is with Bitcoin Dominance. Im watching a potential double top on smaller timeframes. This double top could overlap with bitcoin cooling off, which means money flows heavily into altcoins. Dont jump in too early.

    And if Bitcoin Dominance and Bitcoin do cooperate for altcoin trading, its wise to have a plan ahead of time, this prevents panic and bad decisions. My plan is to start charting some Defi tokens, because DEFI-Perp actually made a small move WHILE bitcoin was taking all the money in the market. And there is a low volume node to the upside so its possible that Defi will move quickly.

    Questions welcome.

    HODLers need not apply. Traders, see you on the battlefield!

    submitted by /u/Winter-Divide-8049
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    Friendly reminder to newbies

    Posted: 15 Oct 2021 03:06 PM PDT

    Whether this is your first Bitcoin hype cycle or not, there's a couple of things to remember. Feel free to comment and add to this list!

    1. During times of high volume, exchange interfaces may crash. Similarly, periods of high volatility may mean that you don't open the app at the exact (or even close) time to see the price you've been looking for. Set limit orders! I'm not sure about Kraken but Gemini and Coinbase Pro both allow this. Getting verified on these platforms can take time so don't wait for the mania! Volatility still may render limit orders ineffective but you stand a much better chance of hitting your target. This leads me to my next reminder…

    2. Set sell targets! Have a plan! Waiting for the mania and shooting from the hip likely means you'll leave money on the table or run into frustrations. You can stagger sell targets if you can't decide between a conservative or FOMO bet. Pick the price of your wildest dreams then set sell orders for amounts leading up to it (which will also help to sell during times of high volatility).

    3. If you're in the United States, tax laws may be different than what you're familiar with. Look at the various tax brackets for capital gains or income AND PLAN TO SET THE PROPER AMOUNT ASIDE.

    submitted by /u/LongtopShortbottom
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    Introducing r/lostmybitcoinholdme

    Posted: 15 Oct 2021 07:08 PM PDT
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