F.I.N.E. - Feeling Insecure Neurotic and Emotional right now is going to get you rekt. Don't day trade or sell during the middle of a huge bull run! We are in an exciting time of growth and adoption for BTC. 2017 was the mass awareness cycle. 2021 is the mass acceptance cycle, which could easily turn into a mass adoption super-cycle. It is far riskier to sell or day trade BTC at these prices than it is to keep stacking Sats and hodl!
Pep-talk over - let's look at the short-term chart!
Take a look at the 4 hour candles - you can see a prominent head and shoulders pattern forming, which a lot of technical analysts and day traders use as a bearish sell signal, which you should not do in this scenario! If the neckline is broken today, which I suspect it will be, I believe we will see BTC move a little lower and retest the support that it bounced off of on 2/28 (around $43k). I do not see that support being broken. I believe we bounce off of the 2/28 support and trade sideways until the end of next week before starting the next move up to around $80k before the end of April. Just ride the next week out and get ready for an exciting end of March and April.
IF, and I do mean IF, the support from 2/28 is broken, the strong floor is the trendline from the current bull run (around $38k). If we go sub $40k, consider it manna from Heaven and scoop up as many sats as you can. I don't think we will see sub $40k for a LONG TIME - if ever again. The only time we could get to sub $40k price again would be the VERY last panic sell-off of the trough at the end of this bull run, probably somewhere in 2023. That scenario seems highly unlikely with the institutional money that has bought in (and will continue to do so during this run), I don't think the crash at the end of the run will be quite as dramatic as previous cycles. These drops are being bought up much faster than they were during the 2014 & 2017 bull runs.
Full transparancy - I am buying more in the $43k-$44k range if we get there in the next couple of days.
*This is NOT financial advice. I am simply sharing my expectations and strategies while preparing for the next leg up.
Pep-talk over - let's look at the short-term chart!
Take a look at the 4 hour candles - you can see a prominent head and shoulders pattern forming, which a lot of technical analysts and day traders use as a bearish sell signal, which you should not do in this scenario! If the neckline is broken today, which I suspect it will be, I believe we will see BTC move a little lower and retest the support that it bounced off of on 2/28 (around $43k). I do not see that support being broken. I believe we bounce off of the 2/28 support and trade sideways until the end of next week before starting the next move up to around $80k before the end of April. Just ride the next week out and get ready for an exciting end of March and April.
IF, and I do mean IF, the support from 2/28 is broken, the strong floor is the trendline from the current bull run (around $38k). If we go sub $40k, consider it manna from Heaven and scoop up as many sats as you can. I don't think we will see sub $40k for a LONG TIME - if ever again. The only time we could get to sub $40k price again would be the VERY last panic sell-off of the trough at the end of this bull run, probably somewhere in 2023. That scenario seems highly unlikely with the institutional money that has bought in (and will continue to do so during this run), I don't think the crash at the end of the run will be quite as dramatic as previous cycles. These drops are being bought up much faster than they were during the 2014 & 2017 bull runs.
Full transparancy - I am buying more in the $43k-$44k range if we get there in the next couple of days.
*This is NOT financial advice. I am simply sharing my expectations and strategies while preparing for the next leg up.