yes it is, last one hour candle of the week is up $700
1 Like
We’ve been taught to trade what we see. There is a popular book on the subject by Larry Pesavento and Leslie Jouflas titled just that: Trade What You See.
Twelve days ago, on February 23, this is what I saw on my daily BTC/USD chart.
What I saw seemed to suggest that bitcoin is following a repeating pattern of steep rises and stutter-step pullbacks. Extrapolating that pattern into the near future (purely by gut-feel), I arrived at Saturday, March 13, for the launch of the next impulse higher, starting from a price of $50,000.
I’ve been watching the daily chart closely since then, and I’ve been intrigued by the fact that bitcoin seems to be conforming to the track that I marked on that chart on February 23. Earlier today, I took another screen-shot of the daily chart, and marked it up as before. Here it is.
I’m now confident that the next move in bitcoin will be up. I think that Saturday, March 13, remains a reasonable guess as to the launch date, and $50,000 remains a reasonable guess as to the price at the time of launch.
If the price action between December 12 and March 13 does, indeed, represent a repeating pattern, then a 60% rise from $50,000 to the $80,000 area seems to be implied.
I’m adding to my bitcoin holdings, based on what I’m seeing.
What are you seeing?
2 Likes
Getting above that big weekly down candle from two weeks ago will be the key, we breakthrough 60K then 80K looks like the next stop.
By the way, 80K was my prediction for Bitcoins 2021 high, I still think I might be a bit low
$1,400 stimulus checks ( not the $2000 biden promised) will be hitting all Americans bank accounts shortly, for me and many that will all be going into Bitcoin
1 Like
Good for you. No one ever lost money taking profit! 
1 Like
another 2K day, I expect a small one-day pullback before bursting to new highs , but then again knowing Bitcoin it might give us a new high before the day is over
1 Like
6 up days in a row, we got within 900 of a new all-time high
60K by the end of the week looks like a good bet
2 Likes
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
