Technique :
Simple % retracement from top of yellow res (about 120k)
Levels are % of top price.
From 1 to 0.5, 0.25, 0.12, 0.1, 0.05, 0.01 ... until 0% ($0)
Idea :
Bitcoin was first created in October 31, 2008 and price started moving from Oct 5th 2009.
It never really had a bear market since due to its extreme strength. I think there is too much hype on BTC, I can feel the over trust or too much expectation like Michael Saylor over hedging like crazy, governments publishing favorable view on it, and so on... I understand that you, as a long-term if not since the beginning of Bitcoin you're bullish af, but look back, you've been into this insane roller-coaster and it can't keep skyrocketing forever, things have to breath, in and out.
On this chart there is no out, it never took a break, and that over trust got me obligated to look down and find crazy levels.
On the bull side however, If I'm wrong the upside potential could be autonomous. Over $1.000.000 to $10.000.000 isn't delusional and very good and happy for all holders and crypto sphere.
Key levels :
200k monthly close followed by another monthly close is a key signal to me. All-in and go to sleep.
6k - 15k has to be defended by all cost, otherwise it could get ugly.
1K
level would very much be well defended and could retrace up to the 15k level (x15)
If
1K
breaks, this could be the end of BTC, provoking a disaster in finance and wipe out many organizations and people.
Below... R.I.P.
Bearish scenarios :
- Governments would never take a system that they don't control.
If they want a crypto, they would make one themselves.
- Disrupted tech are a cycle and sometimes new coming businesses steal the show (like a Chinese project for example ?).
- The memecoin hype went too far. Today you can create a project in 10 seconds, and rug it without any further problems. This could create a violent movement coupled with IA trading and might trigger a flash crash. (Trump coin has been rugged by Trump himself if you don't know btw)
- Bitcoin transaction takes 10minutes in a world that is going faster and faster. And fees are likely to go up over time due to halving. These specs are going to be out dated over time and gives less attention to BTC.
- Quantum computing. It could take some time but over time (may be 3 to 5 years) it could break the ECDSA and reveal private keys associated with Bitcoin addresses, allowing attackers to spend or steal Bitcoin.
Bullish scenarios :
- Governments creating money from thin air and debt goes even further
- More Institutional Adoption means more investors some could drive demand.
- Bitcoin upgrade keeping BTC in the loop and potentially reducing transaction delay and protecting it from quantum attacks.
- Global Payment System / Global adoption
- Bitcoin Halving Events
Time will tell.
Simple % retracement from top of yellow res (about 120k)
Levels are % of top price.
From 1 to 0.5, 0.25, 0.12, 0.1, 0.05, 0.01 ... until 0% ($0)
Idea :
Bitcoin was first created in October 31, 2008 and price started moving from Oct 5th 2009.
It never really had a bear market since due to its extreme strength. I think there is too much hype on BTC, I can feel the over trust or too much expectation like Michael Saylor over hedging like crazy, governments publishing favorable view on it, and so on... I understand that you, as a long-term if not since the beginning of Bitcoin you're bullish af, but look back, you've been into this insane roller-coaster and it can't keep skyrocketing forever, things have to breath, in and out.
On this chart there is no out, it never took a break, and that over trust got me obligated to look down and find crazy levels.
On the bull side however, If I'm wrong the upside potential could be autonomous. Over $1.000.000 to $10.000.000 isn't delusional and very good and happy for all holders and crypto sphere.
Key levels :
200k monthly close followed by another monthly close is a key signal to me. All-in and go to sleep.
6k - 15k has to be defended by all cost, otherwise it could get ugly.
1K
level would very much be well defended and could retrace up to the 15k level (x15)
If
1K
breaks, this could be the end of BTC, provoking a disaster in finance and wipe out many organizations and people.
Below... R.I.P.
Bearish scenarios :
- Governments would never take a system that they don't control.
If they want a crypto, they would make one themselves.
- Disrupted tech are a cycle and sometimes new coming businesses steal the show (like a Chinese project for example ?).
- The memecoin hype went too far. Today you can create a project in 10 seconds, and rug it without any further problems. This could create a violent movement coupled with IA trading and might trigger a flash crash. (Trump coin has been rugged by Trump himself if you don't know btw)
- Bitcoin transaction takes 10minutes in a world that is going faster and faster. And fees are likely to go up over time due to halving. These specs are going to be out dated over time and gives less attention to BTC.
- Quantum computing. It could take some time but over time (may be 3 to 5 years) it could break the ECDSA and reveal private keys associated with Bitcoin addresses, allowing attackers to spend or steal Bitcoin.
Bullish scenarios :
- Governments creating money from thin air and debt goes even further
- More Institutional Adoption means more investors some could drive demand.
- Bitcoin upgrade keeping BTC in the loop and potentially reducing transaction delay and protecting it from quantum attacks.
- Global Payment System / Global adoption
- Bitcoin Halving Events
Time will tell.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.