Bitcoin back down at 28k level…
Let’s go fap.
Some of the latest News:
https://twitter.com/santimentfeed/status/1529494128899538945/photo/1
Let’s go fap.
I have been checking my watchlists and most are already under -80% (some even crashed down to -90%).
While most are still waiting on Bitcoin to possibly crash under 20k (I know I am), this may not be a bad time to start DCA into your favorite cryptos.
Here’s one of my watchlists…
Ethereum is a lot more attractive for me.
Word of caution!
IF you’re already trading crypto currencies, then I need not remind you of the high risks baked into this speculative space.
I only trade those that have proven products being tested/utilized by their fans (games, NFTs, DeFi).
IF you’re new into these things, I highly suggest reading more about it before dipping your small toe.
With that out of the way, I plan to start buying next week.
Only limiting myself to 1k per coin, that’s max capital.
So for example, I might set my DCA to $50/week, with a total cap of $1k.
If I profit from that after a few years, great.
If I lose all that, it’s not going to disable me financially.
*This plan is for my Long Positions, of course.
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So here we are, a clear dead-cat-bounce on the hourlies…
Older players don’t want to see Bitcoin below the 19,666 line–which was the peak from the previous crypto bull-run.
In Bitcoin’s short existing history, it has yet to go below the previous Halving Event’s peak.
Some players think if it ever does, a longer Crypto Winter might trigger.
I say, why not?
Let the “ass-set” be tested.
Will it survive or burn to nothingness?
We did it with the Dot-Com bubble, we’ve done with all developing technologies.
Let’s test things again.
Latest News: IF you’ve been living under a rock…
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I updated the main body, above, to help you retards and nerds shake out of that frenzy.
You need guidance right now. I’m fucking giving it to you.
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Solana, SOL, be careful playing this one any further…
I might jump in still if it holds.
Best to stay up-to-date.
Sold yesterday. But honestly I like Sol very much. Waiting for it to get back $29 probably. Keeping an eye on it. Yes it does crash down too often.
Short term long if it holds I’m assuming. The pump is still going and unfortunately my short position isn’t happy right now
Nah, I tend to forget about my crypto positions, so I tend to hold for years until the next bull-run–whenever that is, if ever.
My exposure to any and all of these are (and will remain) very small anyway–5% of total port.
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For those still waiting on BTC’s eventual bottom this cycle…
IF I’m reading the MACD and RSI indicators correctly,
and IF I’m reading the Buying Channel Candles of the previous cycle right,
the chance we see Bitcoin back to around 7-9k is getting stronger.
This weekend, we’re seeing it try to hold over 19k once again.
I’ll revisit this next summer.
Keep it green.
xxx
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Post Ethereum’s transition into PoS, it has let go of the 15k channel, and BTC is now trying to recover above 19.5k…
We’re all waiting to see if it will maintain above 18k or finally move on down to below 17k.
A break under that line will surely signal another huge leg down.
I’d watch out for a big bounce, when it does.
Monthly chart’s Low Kertnel Channel band points to 10k…
Anywhere near that is a great buy, say the 15-13k channel to start.
Pray day and night
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Bollinger Bands on Bitcoin are now tight…
I imagine it will stay mostly in this range until Nov/Dec flush.
That is when a few big investors will finally be margin called and get forced to liquidate.
Sure I can be wrong and Bitcoin will suddenly pump back to 30k, that doesn’t erase the fact it’s a very risky “investment”.
There simply is no positive catalysts right now for crypto currencies, and no good reason to trap big money in any of them aside from the BTC Halving event that won’t be until 2024-2025.
Hungry funds (and even hungrier mouths) will liquidate when they need the cash stat.
xxx
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So far, this is playing almost exactly as last time.
Talking about the November to December flush, pictured on the chart above.
I caution everyone though, that previous performance does not guarantee the outcome. *cum
I can only encourage you to be conservative with your expectations to the upside.
Crypto currencies have been moving in sync with mainstream macro economics lately, and rarely deviates.
IMHO, there is still a lot more room to fill on the downside, looking at $3k BTC, even if that is extremely bearish sentiment.
I believe most will now demand profitable business out of crypto currencies and the blockchain technologies behind it.
We will be looking for the next Google, MSFT, and Facebook in the coming years.
xxx
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If you will still choose to remain bullish on crypto currencies, best to wait around or under $10k before buying any “dip”…
We’ve only had the Big Double Top from Bitcoin last year, and we’ve yet to see the Big H&S bearish pattern, which is usually the better signal of the real end.
I’m guessing another decade or so, but that’s just me.
For now, just watch the sweet end of a long bull crypto “cycle”.
xxx
P.S. - Here’s SPY and AAPL, overlaid on BTC…
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I am hijacking @rexxar’s post to give my salutations from the objectively better forums
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