Bitcoin is now well inside the range that I created back on May the 12th. Every time we dip below a set range it opens the possibility to go to the next lower range and that's how this zone of interest came to be. The next stop IF we dip below the current range is $11,000. As of right now, BTC does not show signs of strength and we may see another drop, or we may go into a long-range. Also, keep in mind that we are well below bost now, it takes about 34K to produce a Bitcoin that's worth 20K. Production may slow down if we stay this long under production cost which will influence the price. Another point to consider: Since the Dow Jones Industrial average is now in full control of BTC we only get the weekend to see what Bitcoin will do on its own. Mon-Fri Bitcoin moves in whichever direction the DJIA moves, let's look closely this weekend to see if BTC moves up, down, or goes nowhere. If it does not move much that means it is waiting for the Dow to open on Monday to keep following it, which means institutional money is at wheel 100%.
What are we waiting for as a sign that we might move up? We're waiting for a big price drop with small volume. Why? That will indicate to the powers that be that you’ve all sold all you had and that there’s very little cheap supply left. Once the cheap supply is all bought, it's time to start pumping good news out and start moving the price up. If the above does not make sense read it until it does.
Heads up: Look closely and you will see that when Bitcoin comes down volume goes up and when Bitcoin goes up volume is low. What does that mean? It means a few things, one is that there is still a whole lot of selling and buying going on, meaning there is still a lot of cheap BTC to be bought but there is very little interest in buying by first-time buyers. In other words, institutional money is buying a lot from panicky retailers but retailers may be out of cash to buy cheap. This is a warning that we might not be done going down. A good indicator of supply running out will be when we see a candle with a large wick where the price went up by a lot came down by a lot and closed where it started with below-average volume.
My Strategy: 3/3/4 33% of my money is allocated to a very low buy order that can take weeks or months to fill, when that initial order hits my other 33% goes in once we dip below the first buy order's price. The remaining 34% I put to work once we are so low it is hard to believe that we will ever go back up. Needless to say, I have 34% left and I am waiting to see how low we can go. That last 34% typically makes a ridiculous amount of money.
Regarding SHIB: You can buy SHIB and it will be based on hope and it will be an investment mostly because it requires a long commitment, only put a small amount of your capital on coins that you hope will go up. Focus the bulk of your money on the coins that are likely to go up. Get to know your asset class, know the players, and understand the projects. Otherwise, you are gambling with your money hoping you made the right choice and that somehow you will be rewarded. How does Warren Buffett get it right so often? Before investing he gets to know the product and the people behind the product.
Warning: The world economy could get worse, do not commit more capital to crypto if you see a scenario where you'll need that money in a few months. Crypto is not a hedge against inflation, it actually follows the global markets, if they go down Bitcoin will follow. If you hang onto your last bit of capital and we go lower, you'll have the opportunity to put it at the very bottom and see big profits later on. You will not lose if you are very cautious with your remaining capital. You can put it at the bottom, you can put it in once we know for sure that we are going back up or you can use it to survive a recession.
VERY IMPORTANT: Hitting the "Like" button is like a tip, please don't forget to do so after reading, this is your way of thanking me for my time and so I thank you for yours.
What are we waiting for as a sign that we might move up? We're waiting for a big price drop with small volume. Why? That will indicate to the powers that be that you’ve all sold all you had and that there’s very little cheap supply left. Once the cheap supply is all bought, it's time to start pumping good news out and start moving the price up. If the above does not make sense read it until it does.
Heads up: Look closely and you will see that when Bitcoin comes down volume goes up and when Bitcoin goes up volume is low. What does that mean? It means a few things, one is that there is still a whole lot of selling and buying going on, meaning there is still a lot of cheap BTC to be bought but there is very little interest in buying by first-time buyers. In other words, institutional money is buying a lot from panicky retailers but retailers may be out of cash to buy cheap. This is a warning that we might not be done going down. A good indicator of supply running out will be when we see a candle with a large wick where the price went up by a lot came down by a lot and closed where it started with below-average volume.
My Strategy: 3/3/4 33% of my money is allocated to a very low buy order that can take weeks or months to fill, when that initial order hits my other 33% goes in once we dip below the first buy order's price. The remaining 34% I put to work once we are so low it is hard to believe that we will ever go back up. Needless to say, I have 34% left and I am waiting to see how low we can go. That last 34% typically makes a ridiculous amount of money.
Regarding SHIB: You can buy SHIB and it will be based on hope and it will be an investment mostly because it requires a long commitment, only put a small amount of your capital on coins that you hope will go up. Focus the bulk of your money on the coins that are likely to go up. Get to know your asset class, know the players, and understand the projects. Otherwise, you are gambling with your money hoping you made the right choice and that somehow you will be rewarded. How does Warren Buffett get it right so often? Before investing he gets to know the product and the people behind the product.
Warning: The world economy could get worse, do not commit more capital to crypto if you see a scenario where you'll need that money in a few months. Crypto is not a hedge against inflation, it actually follows the global markets, if they go down Bitcoin will follow. If you hang onto your last bit of capital and we go lower, you'll have the opportunity to put it at the very bottom and see big profits later on. You will not lose if you are very cautious with your remaining capital. You can put it at the bottom, you can put it in once we know for sure that we are going back up or you can use it to survive a recession.
VERY IMPORTANT: Hitting the "Like" button is like a tip, please don't forget to do so after reading, this is your way of thanking me for my time and so I thank you for yours.
Comentarios:
Comentarios:
BTC has to make it to 23K before Sunday 8 PM EST in order to avoid closing under the 200MA on the weekly timeframe.
