Bitcoin has an UNBROKEN trend line going back to the genesis block. This trend line has acted as STAUNCH support for over 10 years, with thousands upon thousands of data points CONFIRMING this. It's not up for debate, this trend line is the strongest and most reliable in Bitcoin, and it's right there in the price action on the chart. It's the closest thing we have to the "Sun Always Rises" in Bitcoin.
That doesn't mean it's IMPOSSIBLE to break. It just makes it highly IMPROBABLE. And as a trader, that's what we're after...probabilities with good risk to reward ratio.
The fact that it's unbroken since the genesis block gives me confidence in a LOW PROBABILITY that it will be broken, and a HIGH PROBABILITY that it will act as support, as it has since the genesis block.
This trend line, the Parabolic Adoption Curve, is where the Market Insiders (whales, etc.) accumulate Bitcoin at WHOLESALE PRICES.
This chart has a green channel just above this trend line that I consider the "Whale Accumulation Zone".
We are still in that zone, and not only that, BITCOIN'S PRICE IS SITTING JUST ABOVE IT!
It is therefore probable, and even LIKELY, that BITCOIN IS FAIRLY PRICED FOR THE TIME BEING!
I didn't think the Market Insiders would let retail traders get another crack at accumulating Bitcoin below 9K but I was wrong and as a position trader boy am I ALWAYS glad to be wrong in a case like this where I get to accumulate more Bitcoin at fair value. I knew we'd encounter some selling pressure in the low 10K's but this has blown away my expectations!
Also still in play is this massive triangle that Bitcoin has yet to break up or down out of. This is the MAIN macro pattern I am awaiting confirmation of:
I have no crystal ball but it's been obvious that 10.5K 12K 14K and 20K are the most likely places for dips:
Here is what TradingShot calls the "Fair Value" channel and what I call the Whale Accumulation Zone":
My view is that ONLY a catastrphic event can caused Bitcoin to break the Parabolic Adoption Trend Line, which makes it the "make it or break it" trend line, but also the "Buy Here and HODL for a while" trend line, with good risk to reward ratio.
Trade on and stay frosty my friends!
Peace, Love, & Crypto,
B166ER
Um, I'm just some guy trying to add insights to your own analysis. This is not financial advice.
That doesn't mean it's IMPOSSIBLE to break. It just makes it highly IMPROBABLE. And as a trader, that's what we're after...probabilities with good risk to reward ratio.
The fact that it's unbroken since the genesis block gives me confidence in a LOW PROBABILITY that it will be broken, and a HIGH PROBABILITY that it will act as support, as it has since the genesis block.
This trend line, the Parabolic Adoption Curve, is where the Market Insiders (whales, etc.) accumulate Bitcoin at WHOLESALE PRICES.
This chart has a green channel just above this trend line that I consider the "Whale Accumulation Zone".
We are still in that zone, and not only that, BITCOIN'S PRICE IS SITTING JUST ABOVE IT!
It is therefore probable, and even LIKELY, that BITCOIN IS FAIRLY PRICED FOR THE TIME BEING!
I didn't think the Market Insiders would let retail traders get another crack at accumulating Bitcoin below 9K but I was wrong and as a position trader boy am I ALWAYS glad to be wrong in a case like this where I get to accumulate more Bitcoin at fair value. I knew we'd encounter some selling pressure in the low 10K's but this has blown away my expectations!
Also still in play is this massive triangle that Bitcoin has yet to break up or down out of. This is the MAIN macro pattern I am awaiting confirmation of:
I have no crystal ball but it's been obvious that 10.5K 12K 14K and 20K are the most likely places for dips:
Here is what TradingShot calls the "Fair Value" channel and what I call the Whale Accumulation Zone":
My view is that ONLY a catastrphic event can caused Bitcoin to break the Parabolic Adoption Trend Line, which makes it the "make it or break it" trend line, but also the "Buy Here and HODL for a while" trend line, with good risk to reward ratio.
Trade on and stay frosty my friends!
Peace, Love, & Crypto,
B166ER
Um, I'm just some guy trying to add insights to your own analysis. This is not financial advice.
"You didn't come here to make a choice, you've already made it. You're here to try to understand why you made it."
―The Oracle
―The Oracle
