Hello everyone, here again with another awesome BTC update. This one will be based off my first ever idea posted here about how the halvening really affects the bitcoin price. So if you haven't read the piece, refer back to it and please do support this idea by LIKING as it motivates me to post more setups in the future. Thanks.
We talked about the fact that we need to close a weekly candle above $10300 to begin the next bull run. At the time the price was around $9700 and two weeks later we have touched the $10300 mark for the first time! In addition, we have THAT RED DOT according to PlanB's stock to flow model which points out the transition into a new phase (beginning of the next bull run). Rosy much?
Now we need to consider that it took that long (in crypto terms of course) to get that 6% jump and also the fact that bitcoin has traded above $10000 in fewer than 200 days! When it comes to financial markets, bitcoin plays the fake out game better than most. So while I'd advice against FOMO and opening Longs here, I certainly wouldn't against posting $10000 reddit memes now :D
When to actually open Longs? If you are a hodler you've already gotten your bags loaded, but for traders one would wisely have to wait for a WEEKLY CLOSE above $10300 as explained. We still have almost 6 days left before we close this week's candle so there's your waiting game. It could happen this week, or the next, maybe next month, or whatever the date is but as I predicted on that post, IT MUST HAPPEN THIS YEAR! Almost very Bullish.
Link to my first idea:
We talked about the fact that we need to close a weekly candle above $10300 to begin the next bull run. At the time the price was around $9700 and two weeks later we have touched the $10300 mark for the first time! In addition, we have THAT RED DOT according to PlanB's stock to flow model which points out the transition into a new phase (beginning of the next bull run). Rosy much?
Now we need to consider that it took that long (in crypto terms of course) to get that 6% jump and also the fact that bitcoin has traded above $10000 in fewer than 200 days! When it comes to financial markets, bitcoin plays the fake out game better than most. So while I'd advice against FOMO and opening Longs here, I certainly wouldn't against posting $10000 reddit memes now :D
When to actually open Longs? If you are a hodler you've already gotten your bags loaded, but for traders one would wisely have to wait for a WEEKLY CLOSE above $10300 as explained. We still have almost 6 days left before we close this week's candle so there's your waiting game. It could happen this week, or the next, maybe next month, or whatever the date is but as I predicted on that post, IT MUST HAPPEN THIS YEAR! Almost very Bullish.
Link to my first idea:
Comment:
As you can see BTC is at $9500 now, do not FOMO at this King before confirmations because YOU WILL GET REKT!