CLOUDBERRY CL.EN. NK -,25 Stock Forum (FWB:52K)

trentrehnquist

Doesn’t mean it’s going to happen but given history, I’d watch the weekly close closely. BTC painted a doji on the weekly. At the end of an uptrend that’s usually a bearish sign!

In the middle of January 2024, BTC painted a doji on the weekly and it led to two weeks of consolidation followed by continued movement up. Most of the indicators are cooling off on shorter timeframes but still plenty heated on longer timeframes.

Watch this closely but BTC never retested $50K-$52K to confirm support and blew up to $73K. Corrections ensued after the initial break of the ATH in 2017 and 2020. A correction would be healthy for continued growth upward that’s sustainable for a time.

Remember bearish trends and consolidation leading into and out of the halving is normal.

trentrehnquist

For the newbies (everyone else ignore): this is all normal after breaking an all-time high. In 2020, BTC after hitting a new ATH pullback 20%. In March 2017, BTC pulled back 34% after hitting a new ATH. I will add this cycle is much more similar to the 2017 cycle thus far. It makes sense headed into halving and with as heated as the run to a new ATH has been this cycle, that we see a greater pullback going into halving. This allows indicators to reset for continued growth up. The demand has been very strong thus far this cycle and likely due to the overwhelming success of the newly formed ETFs. Open interest is high showing the greed in the market at this time. These corrections are usually volatile with big swings each way and huge red candles on the daily charts with wicks. Check out the daily and tell me that looks bullish??? The big swings on these corrections this time will provide additional liquidity to sustain further growth upward as miners won’t be able to keep up with demand and frankly don’t want to first coming out of the halving. They want to see continued growth up as their rewards are halved. Don’t get emotional about the wild volatility and don’t overreact. If you’re looking to get in, the next month will provide those opportunities and big loss days are good opportunities to dollar cost average (DCA) your way into the game. It’s still early. Look back at what happened March 2017 and 2020 when BTC set new highs coming out of the bear market: corrections immediately. It only makes sense at this point that a correction ensues to cool things off and provide liquidity for further movement up. When there are as many leveraged positions as we’ve seen recently, there has to be days of wreckoning and they are happening now and will continue for days to come (both puts and calls). These liquidations will provide more liquidity to get this started again around or after halving. And when you look at the economic numbers, the federal reserve isn’t likely to implement any help via fed rate reductions at this time. Everything points south for the next month or so but afterwards past cycles show this cycle should be robust in its movement up. I’d be looking at the $58K area first to DCA and then the $50K-$52K area to DCA (this would be about a 34% correction), and if you’re lucky $48K area to DCA. Whatever you do, don’t get emotional. You still have time to get a good position. Remember, 48K is where ETFs opened. How far does this drops is determined by what price folks aren’t willing to sell and a tremendous wall will be at $48K. If it makes it there, it will likely be a wick and won’t be there long. Too many on here are emotional and post “get in now,” of “going to $0,” or “$1,000,000 incoming,” and you’ve seen them. This is a long game and you even believe in it or you don’t. Purchase it and put it away! If selling this cycle, it’s months and months away before you’ll need to watch for the right time. If you’re not selling this cycle, stay off these chat groups and use common sense. Learn the cycle patterns and set guidelines for your trading. Whatever you do, don’t do 90% of what is suggested here please!

trentrehnquist

Take a look back at March 2017 when BTC at this same point after breaking an all time high gave back 34% in the form of a correction! $51K-$52K area needs to confirm support! A 34% correction from our current ATH is the $48K area. Notice in 2017, BTC made a correction over a 4 week period and then skyrocketed. Demand is here and to stay. It would make sense to confirm support at the $50K area and cool things off a bit going into halving! Then miner rewards are cut in half and demand stays and this gets cooking. Liquidations would provide some needed supply as the demand will continue to be there. Just a thought especially for the newbies. Do not get concerned that you’re late as the should be great opportunities over the next month or so to DCA rug pulls or possibly a deeper correction to go all in. Just food for thought.

trentrehnquist

For all the newbies, this is all routine. BTC must establish the old ATH area ($68K-$69K area) as support. It bounced hard 5 days ago and we shall see what happens here. If it bounces hard here, price discovery might be in order. The more times it tests the $68K-$69K area, the more likely a short term correction is in order. With the demand not relinquishing and with the upcoming halving the end of April, I think the good money is for this to keep giving over the next year or so. A short term correction to $51K-$52K area would be healthy for future, continued growth in months to come. Most indicators are overheated at this time.

letristan

$52K bei 1,06 gekauft, dann nicht mehr rein gekommen und hinterhergelaufen und bei 1,11 eingestiegen und danach ging es steil bergab auf 1,04 €... Nun ist die Frage wie es weitergeht

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