Choose Who To Listen To
Perhaps I don't post enough. One reason is I like to be right (and put my money where my mouth is). Another is I don't want to mislead or have someone put their money where my pocket is...
So with that said. I want to analyze the analysis of out there for this specific purpose. Mainly because I saw a handful of featured bearish claims on BTC, that also didn't have much analysis either.
I like to be as certain as possible when I make a claim or projection; and so does everyone else out there. But that does not mean the claims are equal. If the sole purpose was to barf out claims, then I'd be posting hourly.
Props to those that make bold claims. I respect that. But I do not think we've "topped out" as ProjectSyndicate claimed yesterday. The evidence isn't there today and it wasn't there yesterday.
I agree that:
1. Hitting a parabolic angle is the first sign of a pullback
2. A retrace might be around the corner
I disagree that:
1. The top is in for BTC and other cryptos
- In fact, BTC going sideways is a great thing. It almost always leads to alts surging as attention shifts and traders shift positions to continue their profiteering
2. A retrace would be at 11k? (Not sure if that what the explanation is alluding to... not sure what any of it is alluding to other than suggesting we all need to buy in to the premium calls)
- A fib retrace would put the price bouncing off of somewhere in the 20-25k range
Outside of scribbles - it would be a shame to ignore the global circumstances going on right now. Inflation itself will drive the price of everything up as it is. On top of that, the hoards of funds/firms/fkboys pouring into crpyto right now cannot be disregarded. You and I may think they are incompetent... but it's safe to say they are doing more than just napkin math before funneling 100s billions into crypto at this moment (instead of waiting 30 minutes for it to drop to 11k).
Just some thoughts. I love this platform and the ability to share thoughts and ideas. It gets a little awkward when it's for personal gain and the calls aren't even that promising....
I like that Tradingview supports accountability for claims so it is easy to go back and uncover the truth of such claims.
For the charts I just included, I show some strikingly similar relations to 2017 "bubble"... where 28 days after BTC hit ATH, ETH did and then tanked.. that's happening right now. However, as the purple suggests, BTC actually has bounced and continued to climb, unlike the past example.
For that reason, I believe there's a little more juice in the rocket (and plenty in alts/eth)
So with that said. I want to analyze the analysis of out there for this specific purpose. Mainly because I saw a handful of featured bearish claims on BTC, that also didn't have much analysis either.
I like to be as certain as possible when I make a claim or projection; and so does everyone else out there. But that does not mean the claims are equal. If the sole purpose was to barf out claims, then I'd be posting hourly.
Props to those that make bold claims. I respect that. But I do not think we've "topped out" as ProjectSyndicate claimed yesterday. The evidence isn't there today and it wasn't there yesterday.
I agree that:
1. Hitting a parabolic angle is the first sign of a pullback
2. A retrace might be around the corner
I disagree that:
1. The top is in for BTC and other cryptos
- In fact, BTC going sideways is a great thing. It almost always leads to alts surging as attention shifts and traders shift positions to continue their profiteering
2. A retrace would be at 11k? (Not sure if that what the explanation is alluding to... not sure what any of it is alluding to other than suggesting we all need to buy in to the premium calls)
- A fib retrace would put the price bouncing off of somewhere in the 20-25k range
Outside of scribbles - it would be a shame to ignore the global circumstances going on right now. Inflation itself will drive the price of everything up as it is. On top of that, the hoards of funds/firms/fkboys pouring into crpyto right now cannot be disregarded. You and I may think they are incompetent... but it's safe to say they are doing more than just napkin math before funneling 100s billions into crypto at this moment (instead of waiting 30 minutes for it to drop to 11k).
Just some thoughts. I love this platform and the ability to share thoughts and ideas. It gets a little awkward when it's for personal gain and the calls aren't even that promising....
I like that Tradingview supports accountability for claims so it is easy to go back and uncover the truth of such claims.
For the charts I just included, I show some strikingly similar relations to 2017 "bubble"... where 28 days after BTC hit ATH, ETH did and then tanked.. that's happening right now. However, as the purple suggests, BTC actually has bounced and continued to climb, unlike the past example.
For that reason, I believe there's a little more juice in the rocket (and plenty in alts/eth)
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