BTC - To Buy OR Not to Buy, That is the Question - BIG MONEY
With Bitcoin now pushing 100k I am getting asked by the late comers, the ones that missed the buy at 55k, missed the trade at 70k, and are now looking at Bitcoin hitting 100k, is it TOOOOO LATE TO BUY HERE?
The comment that will have you missing out on many trades is "It's too high to buy"!! The short answer is no, its not too late to buy Bitcoin here, but I want to be clear about what you can expect in returns.
The BIG MONEY has already been made. Yes the days of buying Bitcoin at $100, $1000, $10,000 and looking for that 10-20x return are gone. Could Bitcoin hit $1,000,000 a coin? Sure but that could be 10-15-20 years from now.
A realistic return would be as I have labeled on my chart 130k. This implies about a 30% move from here. That is still a decent return but it is not the type of returns many are use to in Crypto.
Of course you have the perpetual pessimist. That person who seems to talk a lot of shit, but seems to always be missing trades. Always looking for that perfect setup but seldom ever happens.
Me I am straight forward bull bull bull here and this is why. In order for an equity to make a new high, it has to...... well make a new high... If a stock or equity is consistently making new highs then probabilities point to it will likely make a new high again. Simple Darvas or Minervini method.
Sure we are pushing that 100k psychological resistance point and your "feelings" may be saying that "ohh a pullback is inevitable". Well F#$% your feelings, pullbacks are NOT inevitable. IMO it is more likely we blow through 100k and push to 110k pretty quickly. Now I could be wrong, but momentum is on my side, and don't fight momentum! Let's look at the daily chart.
Currently we have a pretty tight consolidation going on which is generally a continuation of the prevailing trend. There is nothing bearish about this pattern. Of course it needs to break the 100k resistance level to confirm, but it is NOT falling apart here or even rejecting this level.
This can change of course, but why fight the trend? Why fight momentum? This is an equity you want to be long in, it is making new highs and it is not overly bullish yet. Sure Cramer just gave it the thumbs up and many seem to talk s@#$ about him, but I couldn't agree more!
Also I like Cramer he is more than not point on. So go F#$% yourself before you start bashing Cramer. He ain't scared to put a trade out there unlike many that just spiel BS every week and never really take a trade.
Ok so back to the question, To Buy OR Not To Buy?
I have a friend who wants to get married and have kids. He has dated some hot and pretty cool women in his life. However, something was always "Not perfect" with each one of them. So he would break up with them looking for the "perfect wife". He is still single.
Well this is the parallel to the market here. Keep waiting for the perfect setup and you will be waiting on the sidelines for the rest of your life. SOOO..........
I think you can buy some here as long as it is a small like 1/3 position. Sure Bitcoin can pullback to 90k but so if it does you have some coin to buy another position. What if it breaks higher? Well if it closes above 100k and then takes out the high, buy another small position.
Again do not expect to get rich off these trades, we are now entering the 20-30% return area over the next few months. Bitcoin is not going to make a run like 2017 where it went from $500 to 20k, or 2022 where it went from 15k to 60k, those days are over. Those calling for it to hit 500k in the next year are dullards.
Sure there will be an alt coin here and there that you can look for a 5-10-20 bagger, but Bitcoin is now going to be a slow steady trade. This puts it on parity with stocks.
Anyways follow the money, and order flow is bull bull bull right now. Sure that can change, but do you sit on the sidelines because it might? Dullard POV IMO.
The comment that will have you missing out on many trades is "It's too high to buy"!! The short answer is no, its not too late to buy Bitcoin here, but I want to be clear about what you can expect in returns.
The BIG MONEY has already been made. Yes the days of buying Bitcoin at $100, $1000, $10,000 and looking for that 10-20x return are gone. Could Bitcoin hit $1,000,000 a coin? Sure but that could be 10-15-20 years from now.
A realistic return would be as I have labeled on my chart 130k. This implies about a 30% move from here. That is still a decent return but it is not the type of returns many are use to in Crypto.
Of course you have the perpetual pessimist. That person who seems to talk a lot of shit, but seems to always be missing trades. Always looking for that perfect setup but seldom ever happens.
Me I am straight forward bull bull bull here and this is why. In order for an equity to make a new high, it has to...... well make a new high... If a stock or equity is consistently making new highs then probabilities point to it will likely make a new high again. Simple Darvas or Minervini method.
Sure we are pushing that 100k psychological resistance point and your "feelings" may be saying that "ohh a pullback is inevitable". Well F#$% your feelings, pullbacks are NOT inevitable. IMO it is more likely we blow through 100k and push to 110k pretty quickly. Now I could be wrong, but momentum is on my side, and don't fight momentum! Let's look at the daily chart.
Currently we have a pretty tight consolidation going on which is generally a continuation of the prevailing trend. There is nothing bearish about this pattern. Of course it needs to break the 100k resistance level to confirm, but it is NOT falling apart here or even rejecting this level.
This can change of course, but why fight the trend? Why fight momentum? This is an equity you want to be long in, it is making new highs and it is not overly bullish yet. Sure Cramer just gave it the thumbs up and many seem to talk s@#$ about him, but I couldn't agree more!
Also I like Cramer he is more than not point on. So go F#$% yourself before you start bashing Cramer. He ain't scared to put a trade out there unlike many that just spiel BS every week and never really take a trade.
Ok so back to the question, To Buy OR Not To Buy?
I have a friend who wants to get married and have kids. He has dated some hot and pretty cool women in his life. However, something was always "Not perfect" with each one of them. So he would break up with them looking for the "perfect wife". He is still single.
Well this is the parallel to the market here. Keep waiting for the perfect setup and you will be waiting on the sidelines for the rest of your life. SOOO..........
I think you can buy some here as long as it is a small like 1/3 position. Sure Bitcoin can pullback to 90k but so if it does you have some coin to buy another position. What if it breaks higher? Well if it closes above 100k and then takes out the high, buy another small position.
Again do not expect to get rich off these trades, we are now entering the 20-30% return area over the next few months. Bitcoin is not going to make a run like 2017 where it went from $500 to 20k, or 2022 where it went from 15k to 60k, those days are over. Those calling for it to hit 500k in the next year are dullards.
Sure there will be an alt coin here and there that you can look for a 5-10-20 bagger, but Bitcoin is now going to be a slow steady trade. This puts it on parity with stocks.
Anyways follow the money, and order flow is bull bull bull right now. Sure that can change, but do you sit on the sidelines because it might? Dullard POV IMO.
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