Testing support at 20K may not happen for a while as we look ready to break above 24K
Short term support is at $22,500
4 hr chart
Another rejection of 24K, our 4hr chart shows a clear resistance line at 24K and support at 22.5K
What I will be watching for is a break of support which would cause the short term bulls stops to be triggered and price to break sharply lower, bad for the day traders but good for the rest of us as we will be able to add to our positions at a better price.
Santa has been good to us Buy and Hold traders
I read only last week that up to an estimated 97% of Bitcoins are held and not being actively traded, it was cited as a reason for Bitcoins volatility,
I can’t really complain, I’ve still got my first purchase from 2015 and top-ups from 2019 and 2020.
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you keep holding those coins and you will be a rich man my friend
are you kidding me, he just tagged 24K again. when we finally get a candle close above 24K look for price to quickly move to 26K.
30K by New Years is not out of the question
I should have added, that 97% of Bitcoins I referred to is held by just 4% of Bitcoin owners.
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It might be Christmas but Bitcoin knows no holidays.
We are back above 24K, a close above this could lead to the next move up
If this holds true we are all going to be kicking ourselves for not buying more even at todays 24K price
Looking at the closing year end price of bitcoin over the last 5 years Bitcoin has doubled every year except for 2017 which was our tulip year, but replace that 13863 with 1800 and the doubling trend continues. which means this could be another tulip year. Here is what the doubling will look like into the future
So lets see who is right Citibank or me
2015 $430
2016 $973
2017 $13,863 ( $1,800)
2018 $3,691
2019 $6,430
2020 $12,000 ( current price 24K)
2021 $24,000
2022 $48,000
2023 $96,000
2024 $192,000
2025 $384,000
you are being fooled if you think the stock market will keep rising in the next years and you think there wont be a recession
crisis is behind the door
this fool looks forward to recessions, that is where big money is made
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indeed it is. Far away from me the idea to tell you that you are a fool, my intention wasnt that at all. it was to point the fact that market cannot continue growing with the actual fundamental. You misunderstood me.
Bitcoin have a 95% monthly positive correlation with S&P (which means price move together 95% of the time). for that reason i think bitcoin have no future. because when crisis will occur the stock market will surely fall 70% like always and will grow again
but imo bitcoin wont survive to this fall. we cant tell that bitcoin will survive to this evenment. it will be like its final expiration because it will not only achieve to take out the confidence from the few people that still believe in this lie, but it will also create a fail in the system because demand will largely overpass offer (this mean the money of the people will be stuck in it and they wont see it anymore)
more than that : actually bitcoin isnt at his real price. it is risen artificially by the creation ex-nihilo of tether and through injection of this illicit “money”
a little bit like what we see on the stock market , except there is a big difference between these two “fake rise”. the big difference is that the stock market and the dollars/euros are regularised and legally allowed by institutions
while cryptomarket is being moved without this regulations and without legal rights. but at the end, thats what people invest in. thats what they wanted
they had prefer to “invest” in an obscure system where they dont know exactly who made what and with which rights, rather than the actual system/institutions where we know who make what and with which rights
we are the middle of a pandemic with half the country shut down, and yet the stock market up 30%, there is now little correlation between the economy and Stock market. The Fed will continue to back stop the Stock Market no matter what happens in the rest of the economy, and by my numbers they can keeps this Ponzi scheme going for many more years
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every thing you are saying was said 4 years ago when price was breaking $1,000 for the first time. I don’t try to justify price of any stocks, gold or Bitcoin, I just follow the trend and for now the trend points higher
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market conditions are not the same that it was 4 years ago, you are right to trade what you see
however perso i rely more on my intuition and fundamentals. no one was enough talentuous to convince me to invest in it, neither you 
maybe you are right , maybe you are wrong. however i think having a connection to reality (realism , keeping what is fact and what is not) is a good way of thinking and i have to admit that you have it partialy in your reasoning
you are playing a dangerous game because you are beting against your own institutions (the same that your ancestors built), the ones who always win
as well you have an emotional involve in your strategy in which you are100% sure you will become rich without even understanding on what you invest except “muh moon , muh price only goes up , muh everyone said that”
That is a Hollow-man argument and completely untrue.
I wish this was true as I would be a very rich man today, my investment strategy has always been conservative, not looking to become rich overnight, but build wealth over time leading to a worry free retirement
Yesterday I said this
and today we are seeing the next move up, now above 25K
call me crazy but 30K by New Years,
this is more exciting than a football game, Bitcoin is just a few dollars below 26K
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