Bitcoin - A New Hope
What we are seeing now with Bitcoin and crypto is part of a never-ending cycle, the trick is to know which part of the cycle we are currently in. You'll make a small fortune by timing the bottom and the top. The bottom will reveal itself with volume and other indicators. What does the bottom look like? When price hits a point and refuses to go lower even after a few times, it literally forms a line at the bottom. It is also followed by a range that can last weeks or months and sometimes it includes a spring down before moving up fast. Also, at the bottom, you'll feel exhausted from bad news, and events that make you feel ready to give it all up, but suddenly the bad news and negative events artificially stop. At the bottom, the news will be boring, inconsequential stories with a period of quiet trading and sideways action.
Fundamental and technical indicators like this make it a little easier to spot the bottom.
What's happening right now?
We are due for a big bounce up, this or next week at the latest. We are still under production cost which is creating instability. The dip that BTC took this week to $25,600 opened the possibility to go to 21K which would be a logical bottom. For now, Bitcoin is moving back to the MOABZ which is a safe area, but it did not move up in a convincing way, leave some cash handy just in case we go to 21K.
Wisdom:
This is not a once in a lifetime opportunity
This is not a unique event
These are not special times
This happens over and over again. This cycle is as old as the hills.
Warning
If the people you follow have been screaming "BTC moon tomorrow" for the last 12 months odds are they also bought LUNA thinking it was a great idea and bought some more on the way down. Do yourself a favor and follow reasonable analysts, unfollow moonBoys, they will help you lose your cash fast.
How crazy was that?
I didn't see the LUNA fiasco coming but I wasn't surprised. Let me explain: If you walk into a dark alley late at night in a dangerous neighborhood and two dogs maul you to death I would say I didn't see that coming but I knew nothing good happens in dark alleys in bad neighborhoods at night. After BTC went under its production cost we didn't go down far enough so I knew something big had to happen in order to drive price down further and we might not be done yet. We are still in a dangerous neighborhood and it's late at night. Remember, join the wave don't fight it. If they are driving down the prices let's see how low they get.
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.
Fundamental and technical indicators like this make it a little easier to spot the bottom.
What's happening right now?
We are due for a big bounce up, this or next week at the latest. We are still under production cost which is creating instability. The dip that BTC took this week to $25,600 opened the possibility to go to 21K which would be a logical bottom. For now, Bitcoin is moving back to the MOABZ which is a safe area, but it did not move up in a convincing way, leave some cash handy just in case we go to 21K.
Wisdom:
This is not a once in a lifetime opportunity
This is not a unique event
These are not special times
This happens over and over again. This cycle is as old as the hills.
Warning
If the people you follow have been screaming "BTC moon tomorrow" for the last 12 months odds are they also bought LUNA thinking it was a great idea and bought some more on the way down. Do yourself a favor and follow reasonable analysts, unfollow moonBoys, they will help you lose your cash fast.
How crazy was that?
I didn't see the LUNA fiasco coming but I wasn't surprised. Let me explain: If you walk into a dark alley late at night in a dangerous neighborhood and two dogs maul you to death I would say I didn't see that coming but I knew nothing good happens in dark alleys in bad neighborhoods at night. After BTC went under its production cost we didn't go down far enough so I knew something big had to happen in order to drive price down further and we might not be done yet. We are still in a dangerous neighborhood and it's late at night. Remember, join the wave don't fight it. If they are driving down the prices let's see how low they get.
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.
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