BTC - Where do you think we are in the cycle?
Markets have a very distinct and often repeating cycle that they tend to go through.
Oddly enough, many end up looking very much the same.
They end up looking something very similar to this chart here:
(Source: https://twitter.com/Bonez0r1/status/1155551386278518784)
Given that, where do you think bitcoin is in this market cycle?
I know where I think it is...
But I want to give you some time to mentally select where you think we are...
Go ahead and pick it out.
Ok, now here is where I think we are:
(Source: https://twitter.com/Bonez0r1/status/1155551386278518784)
Doesn't this look eerily similar to bitcoin's chart and to that move up to $14k we just witnessed a few weeks back?
That would mean this is currently the disbelief phase...
Look what comes next on the far left side of the chart...
Stay informed my friends.
-Doc
That is exactly where we are ;-)
I think so as well, buy the dip!
There are several important upside target levels:
Any of those numbers are possible depending on what happens. The entire monetary system is like 80 trillion dollars, if bitcoin replaces even part of that, it goes a lot higher.
I agree, it just a matter of overlapping the charts!
People are impatient, but patience is a virtue and rewards the boldest.
Often investing just involves the transfer of wealth from the impatient to the patient.
Not only often, it is exactly what happens daily on the markets... but on crypto due to highest volatility it can be seen even without trying... :D
Very true.
Absolutely... Close that futures gap at $8500, and let’s roll!
Lot of people expecting $8,500... does that mean it doesn't happen???
After today’s price with increasing volume my tune may change.
What may it change to?
$15,000 target. Was expecting a drop to $8500 first, but BTC proving to be too bullish.
Yea I was waiting for a number in that area as well. I picked up some under $10k just in case it never gets there.
Could always be complacency. Just saying. :)
Lol well it could be several things. Does that mean you think that is where we are?
Im saying i have no clue. lol. Could be any of those things. Depends how much you stretch the graph out.
No body knows for sure anything, but one can't help but notice how similar to a weekly chart of bitcoin this entire market cycle is... plus when you factor in how bitcoin has performed historically around its halving events, there is a decent probability that we are in fact in the disbelief stage. I mean even the fact that we are having this conversation hints that it is the 'disbelief' stage. :)
I have to agree as I think that the rally has been incredible, too fast, too quick but I am most likely wrong (I hope).
I think it was as well, which is why we pull back. Though I think the pullback won't be that severe and then it is go time.
Still buying $50 per week of BTC...long term hodler i am. Wish it was a bit lower though, but up up and away please!!
Yep, though, when you automate your buys like that it makes it less stressful trying to time things.
re ya changing your mind jr
if your showing we are in disbelief and its just about to skyrocket on the chart
are you saying you dont believe it will go to 7500 or 8500 anymore either bud
ive been telling anyone who will listen that if we go below 9k it will not stay there long at all
but yeah your chart shows its not going anywhere near there if thats the case
have a great day man and keep up the good post bud
cheers
Prices could easily hit $8,500 $8k or $7,500 and still do exactly what this chart is saying. This chart is very similar to a weekly chart of bitcoin, meaning we still could have a few more weeks of consolidation before we start moving up again... or we may not. Nothing is exact here. :)
The point is that we are consolidating right now, but this consolidation should be bought because are likely to go much higher when it is done. Whether it is done now, dips to $8k, or dips to $7k doesn't really matter... it won't invalidate the chart or pattern in any way.
$6k is really the only number I don't want to see broken from a technical perspective.
ok i just wanted to know where you stand we will be consolidating for almost another month and or less i think but we will not be breaking 7500
not a chance in hell and i hope im not eating my words later lmao
cheers nothing under 9k and if it happens it will not stay there for more than a day