We got within a few dollars of a new all time high, now the pullback before the push to new highs
3 days ago I said
\[quote=“Dennis3450, post:447, topic:229801”]
I expect a small one-day pullback before bursting to new highs
[/quote]
and today we have the “bursting to new highs”
60K is now in the bag, can the moon be that far away
1 Like
It’s hard to make predictions – especially about the future.
Yogi Berra
This was my bitcoin prediction 6 days ago –
This is how it is actually playing out –
The launch from the 50k area to the 80k area began almost a week sooner than I thought it would.
But, in (perfect 20/20) hindsight, we can see that the price action between March 1 and March 12 was almost an exact copy of the previous price action between January 28 and February 7
By March 7 – when I made that previous prediction – the chart was screaming:
"Get long. The next major move has already begun."
Bits now cost a little more than 6¢.
In the not-too-distant future, bits will be worth $1.
A lot of people will be kicking themselves for not buying them for 6¢.
1 Like
I would say you nailed it, Bitcoin always moves faster than our minds can think, 61K as I type this
I am kicking myself for not buying more a year ago when it was under 1cent
but I can say that I am one of the 1% of 1% that own at least one Bitcoin,
It is going to be a fun ride and glad I have my ticket
eveyone have a blessed weekend
2 Likes
The monthly chart is even more impressive, we have seen an ever-widening of the trading range for 5 months if March is to extend that 6 we will see a price above 70K before the end of the month, making Clints’s 80K call even more likely
2 Likes
A little bit of a pullback today but still an impressive weekly chart
Remember when they called that first run up to 20K back in 2017 a Tulip moment ( circled area )
Well if that was the Tulip moment what do you call the last 4 months.
Now fast forward to 2025 and last 4 months will look as insignificant as 2017
To the Moon babby!
It took two days but we have retraced Saturday’s record-breaking move higher.
This new high followed by a sharp pullback action has given me an idea for a new Strategy
Simply buy the dip, let’s say $5,000 pullback then sell the breakout, this simple strategy that should net you 10% every time you do it.
Just for fun let’s paper trade this pullback, our buy would have been at 56788 we could do a second buy at 51788 if it is a deeper pullback, we sell breaking new high, let’s see how it plays out
1 Like
Bitcoin daily charts, screen-shots taken Tuesday, March 16, 5:50 pm EDT
Candlesticks versus Heiken-Ashi candles – nothing implied here, just an interesting comparison.
James Rickards, whose opinion on most matters of economics and investing I value highly, has been negative on bitcoin for many months, while acknowledging that tons of money continue to pour into bitcoin, and bitcoin continues to make many people very rich.
Here is a short rant that Jim sent to his subscribers today –
Last Friday Bitcoin surged to $60,000, a 20% increase in just one day. The reason doesn’t matter; it’s bubble dynamics at work The case against Bitcoin as an investable asset is long and compelling. It has no use case; there’s almost nothing you can buy with a Bitcoin, It has no return other than higher prices based on an application of the greater fool theory. It’s the worst bubble in history.
The Bitcoin price is a Ponzi, driven by issuance of the “stable coin” Tether, which has never accounted for the billions of dollars it’s gotten from naive Tether investors. Bitcoin will never displace the dollar, but it could destroy confidence in the dollar by its all-encompassing impact. This could be the cause of social disorder and be a contributor to the decline of linear, rational civilization.
Curiously, the “Read More Here” link at the end of Jim’s rant, links to a Reuters article which is essentially positive for bitcoin.
Ya pays yer money, and ya takes yer pick.
2 Likes
Is there a greater Ponzi than the US dollar, something like one-third of every dollar ever printed was printed last year.
But God bless the bears, once the bears have all been wiped out or became bulls that is when you will know the top has been reached and that could take years even decades
a two-day pullback and back up we go, another new high by the weekend looks nearly certain
Don’t forget the buy the dip paper trade we are doing
Max Keiser has a bold Bitcoin price target, is he crazy, if not it will be life-changing for many of us here
1 Like
Looking at the 1hour chart, Bitcoin did a 180 on us overnight, I also see that on the 1hr chart that 200 ma comes into play very often, if you are into Swing Trading, buying below the 200 ma has proven to be a good entry point
The last 8 days we have 4 up days and 4 down, the ups are however currently winning the price war.
New All-Time High this weekend still looks like a good bet
1 Like
We are making another run at 60K, Have you notice that the number of days to hit a new high after a dip is getting shorter and shorter
1 Like
Not trading it yet but it’s interesting to watch especially playing with the dips in my demo.
1 Like
so much for a short dip and new high, we now are looking at a range of 55K to 60K, the 50-day moving average is quickly catching up and should give us another layer of support
You have got to love this little uptrend we are on, that stepping pattern is saying a new high might be just days away
I don’t put a lot of stock in these short term Head and Shoulders with the upward sloping Neckline, but still, it is something to be aware of, the pattern is only valid if we break the neckline, then a move down to 45K could be in the cards
