We will see as we do have a US government acting like the one from the novel 1984
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We are testing an important support level, We need buyers now or 30K could come into play. For Bitcoin, a 50%+ retracement has happened before several times before
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Going to be a really nice price to get in at once it finds support
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Thanks, monitoring…
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Here is an interesting video about the recent bitcoin price moves and institutional price manipulation.
BITCOIN MANIPULATION 2021 - Textbook Wyckoff Distribution Exposed!
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Wow thats amazing!
Such great results! For how long have you been practising this strategy? This makes me want to invest in bitcoin and go long. But I am sure before that I would have to learn how to invest in it. Can you share some tips with me that will help me in the long run?
Bitcoin below 30K, and if you look at the weekly , that is looking like a mega head and shoulder top, I hate being the bearer of bad news but I see us going lower
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Not the best example of a Head and Shoulder top but not the worst I have seen either. I am drawing the neckline at 30K , that is our line in the sand.
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I know I just posted a possible major Head and shoulder top but on the shorter time frame, we are about to have our 7th up day in a row. Something we have not seen since March. I do hope this move nullifies that H&S but it is still a coin toss at best from here
How long will that take you think. Is that like a couple weeks or even months before you know? Or just week by week watching the chart?
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until we hit a new high , other wise we could just be seeing a higher right shoulder
In addition, we have a bearish inside bar.
That red candle from a couple of days ago managed to turn green giving us 10 up days in a row, we are red so far today but there is still time and we are above 41K , a weekly close at this level would be a strong technical move
Remember the title of this thread is Buy Weekly and if you had done that the last 10 weeks all of those purchases would be positive
Always respect your opinions and analysis - not sure I respect your almost fanatical belief in Bitcoin.
Ok maybe that is a bit harsh - but for me I would not want to be in any market that is basically at war with the regulators and central bankers.
Not too mention that Bitcoin chews up lots of energy and in an increasingly woke world that is NOT bullish.
Also what happens when the Fed come out with their own coin?
I’m not going to say the days of BTC are numbered, but such a backdrop needs to be taken into account when analysing which way you think a market is going to break.
This infrastructure plan could well be funded by crypto taxes - just another in a long line of regulatory issues.
“fanatical belief” I wish I had a fanatical belief then maybe the 50K I have had sitting in gold the last 5 years would have been invested in Bitcoin and I would be a millionaire many times over. As it stands right now and for many of the reasons you have sighted, I have taken a very conservative principle position in Bitcoin. If it goes to zero I would have lost a small portion of my net worth, but if it goes to 6 figures then I will have a very confortable retirement.
Over my investment life I have owned Netflix, Google and Amazon, when selling for under $100, I sold and thought I was smart making a quick 20%, little did I know I was living 3000% on the table. I have sense learned to have conviction in your investments
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Ok @Dennis3450 I stand corrected - and am pleased to be so.
Fact is I don’t understand this crypto market - sure we have great technology - but the lack of adoption PLUS regulatory hurdles is a glowing red flashing neon sign to me.
I continue to see so many of my friends get wrapped up in crypto and lose their shirt - all for the promise of mega riches.
It seems like most are HODLers - and cannot justify why.
I’d love to hear the reasons why Bitcoin is supposedly superior to any investment ever invented.
I suppose it’s down to the likes of Michael Saylor who recently said Bitcoin was the best invention for…wait for it…since the discovery of FIRE.
If that’s not a red flag I don’t know what is
I will continue to be down on the sector until people start waking up and start thinking with their heads not their desires to be rich beyond their wildest dreams.
If you wanna get rich beyond your wildest dreams the market to be in ‘long term’ is the blue carbon credit market
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I have never heard a serious person say that. But in terms of stores of actual value anything is better than fiat currency which is being debased at a staggering rate by the Federal Reserve System. Witness the stockmarket bubble and exploding house prices as investors scramble to get their savings away from federal reserve notes and into something either physical or finite. Bitcoin is finite, Federal Reserve notes on the other hand can be created until they run out of zeros.
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