BTC 9/30 update
Good morning, afternoon, and evening wherever you are on this 3rd rock from the sun. It is FINALLY here the end of September. The next 15 hours or so will show us if the stock-to-flow model as devised by Plan B is continuing to be accurate. If you may recall yesterday I stated that the S2F predicted a floor pricing of 43k to end this month. I was pleasantly surprised to see btc jump 2k overnight and feel that it will hover between 42800-44000 before settling in the mid 43k level to end the day.
With that being said, where do we go from here? Looking at a fundamentals level not much has really changed besides the fact that fear of US credit default still looms. To me it is purely FUD created to shake us retail investors out so that institutions can buy at a discounted rate. HOLD THE LINE.
Now, if you want to day trade I think today will provide a lot of 2-5% +/- jumps allowing for easy returns to be made. I personally will be holding my short positions till the 50k level and seeing where we are going on the hourly chart. I believe in the S2F model as it's been freakishly accurate since its inception. If we close in the 43k level I see our next price target being Augusts resistance of 50-53k. At which point I see us having minor pull-back to the 45-48 before continuing upward to ATH of 63k. At which point I say HODL. If the S2F is correct for the remainder of the year price targets are as follows: October--- 63k, November--- 95k, and December---- 135k.... At which point you will need to ask yourself do you cash out or ride it up. I personally see BTC hitting the million dollar mark between 2024-2026. I will of course trade like a MOFO between resistance levels or sideways markets and continue to DCA for my long term. Feel free to leave a comment or question and follow for more insight. Till next time.
- J
With that being said, where do we go from here? Looking at a fundamentals level not much has really changed besides the fact that fear of US credit default still looms. To me it is purely FUD created to shake us retail investors out so that institutions can buy at a discounted rate. HOLD THE LINE.
Now, if you want to day trade I think today will provide a lot of 2-5% +/- jumps allowing for easy returns to be made. I personally will be holding my short positions till the 50k level and seeing where we are going on the hourly chart. I believe in the S2F model as it's been freakishly accurate since its inception. If we close in the 43k level I see our next price target being Augusts resistance of 50-53k. At which point I see us having minor pull-back to the 45-48 before continuing upward to ATH of 63k. At which point I say HODL. If the S2F is correct for the remainder of the year price targets are as follows: October--- 63k, November--- 95k, and December---- 135k.... At which point you will need to ask yourself do you cash out or ride it up. I personally see BTC hitting the million dollar mark between 2024-2026. I will of course trade like a MOFO between resistance levels or sideways markets and continue to DCA for my long term. Feel free to leave a comment or question and follow for more insight. Till next time.
- J
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