Bitcoins - bull or bear
Img src : Screenshot from CoinGecko app
Months ago, when I wrote about the possibility of Btc rising when it was 4000 usd, I don't think anyone would have been optimistic at all. At the point of time, I can see that there is a sea of regrets. Well, I guess it takes a bit risk and a plan to navigate to unknown territories or the fogs of war.
so what do I think of Bitcoin at this moment.
What I am writing is just my own theory.
I think Bitcoin still have some gaps to fill before Bitcoin heads into correction. This time around, more institutions have started investing Bitcoins. Early, 2018, it took only 18 days for Bitcoin to hit 20k. This time that is not happening. I think what you can do is look at the long term. Near term predictability is hard. When I look at the charts of Bitcoin, it is moving upwards steep but not steep enough to fall. I think it's safe to say that it may hit around 16k and we have to be cautious.
The time when we see sharp declines in the prices after a week is an indication of a possible downtrend. There is currently enough data to have a rough estimation of where the prices of the major cryptos are heading towards.
A year from today, Bitcoin's total block per minute is gonna be halved. This will no doubt be a catalyst for a bull run. I am estimating Bitcoin to reach a 100k in a year. Facebook's Libra coin is going to perhaps create a huge wave of mass adoption with such a huge user base.
only invest in money you can lose. Only the brave can enter the dark forest of the unknown.
Posted using Partiko Android
I’m calling the top is now 12k-12.5, based on EW and indicators. We should see a pull back 6k-8k, but I’ve been wrong before.
Posted using Partiko iOS
Hi hi Patrick... Great to see u here again. It's good to be alert at the current price. I am also monitoring the price at this range staying a bit neutral and checking for a confirmed pullback then I will swap my bitcoins a stable coin.
Posted using Partiko Android
Did you get out? I called the exact top for my buddy! It was the.65 from the ath to the recent low! I’ve been watching for a while. All this action! Some good practice!
Posted using Partiko iOS
Hey hey bro... Nope I just left it there. Cause my portfolio isn't that big yet. 😁😁😁 Did u manage to make some profits from this? What's the next movement that you see?
Posted using Partiko Android
No, but opened another short that’s paying off. Still lower to go. We might come close to the top again in the short term. Maybe I’ll do up a chart with thoughts. The good news is there will be another opportunity to buy cheap. If this is a “B” wave. We might go below 3k. If it’s a “1” wave we could see lows of only around 6/7k. If it’s a B wave, I’m buying a whole bitcoin to add to what I have.
Posted using Partiko iOS
Do share with me the EW chart you have. I am still a student in that area. Yeap. I also think it's good to have this opportunity to accumulate more btc to the portfolio if the price do hit 3k. If only we knew its worth something today ten years ago. 😁😁😁 What platform are you using for your trades?
Posted using Partiko Android
So the orange line represents when I basically stopped wathing the price of BTC. I went to a water park with the family!! We had fun!! So sometime before we left I drew though trend lines(left side of orange vertical line) On the right side is what happened when I left, reacting perfectly to the trend lines from the day before. Always draw and extend out trend lines. You'll be surprised at how often price reacts to them.
What this means currently, is lower prices to come!!
Oh and this trend line held all day!
Posted using Partiko iOS
Hey hey... Patrick sorry bout the late reply. Just wanted to read it carefully ur great messages before replying. Yea. I guess for those who invest in Cryptos or have exposure in Cryptos, it always lingers in the mind even when going on a holiday thinking about it. If it does head to 2k this time around, I got my sub machine gun ready with bullets that could penentrate the trend line. 🤣🤣🤣
Posted using Partiko Android
One possible scenario. ABC, tough to say where the C will land double bottom? or 2.2k that some people have called for? Or will it go the length of A and land at 0? Doubt that!!!
next scenario, a 1 wave? If so there is the buy range.
I doubt this will happen, buttttt always good to look at everything. Since we retraced back to the .786 is it at all possible that the first all time high was wave one??? If that's the case we will see a steady run up to 35k and wave 5 will top at 54k!!! Doubt this but always good to consider all scenarios.
Right now I'm favoring a "B"wave scenario.
If it does go to 54k the next time, you would see a video of me doing the crypto war dance and hopefully it would be a hit. Hahaha jk. Yea. What do you reckon the price would be once BTC halves?
Posted using Partiko Android
Thank you so much for being an awesome Partiko user! We have just given you a free upvote!
The more Partiko Points you have, the more likely you will get a free upvote from us! You can earn 30 Partiko Points for each post made using Partiko, and you can make 10 Points per comment.
One easy way to earn Partiko Point fast is to look at posts under the #introduceyourself tag and welcome new Steem users by commenting under their posts using Partiko!
If you have questions, don't feel hesitant to reach out to us by sending us a Partiko Message, or leaving a comment under our post!