ich1baN

BTC: Performing Beautifully - Back Above Lower Golden Cone

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
This is an update to my last chart where I posted when every single trader, investor, dog, cat, rat, and monkey were screaming THE WORLD IS COMING TO AN END - BTC IS OVER!!!! IT'S OVER!!!!

This is obviously the typical response when you have a $10B+ liquidation in the futures market. Not a single trader mentioned the possibility of sideways chop BUT ME.

You can read that analysis here:


My opinion is still the same - I think BTC is range bound for the next 2.5-3 months while alts begin a scintillating season of upward moves followed by higher highs.

The great thing with BTC's recent price action is that it has come up above the lower golden cone line that was generated at the beginning of the current Bull Market back in Oct 2020. This line holds many key critical support / resistance zones and as of now BTC has closed above and is finding rest on it.

Will post again when time and price action merits.... for now, you should have bought UNI when I said to - you'd already be sitting pretty - here is my latest chart on that:


UNI is the most undervalued ERC-20 protocol product on the market and it will continue to gain value ahead of its May 5th launching of V3... this has some of the strongest fundamentals in the entire investment space (including equities).

Comment: Just remember when everyone was telling the Bull Run was over Papa ich1baN was here holding your hand telling you the reality.

Comments

Thanks for your perspective. We’re at that point where those traumatized by the last market downturn are starting to come out of the wood work with their proclamations that the bear market is here. Any sensible person can see that it makes little since for such circumstances to arise at the moment. Does one not stop to ask even the simplest of questions like why would big institutions introduce BTC to clients right at a market downturn? Answer, they wouldn’t, that would be the height of stupidity. That of course is the tip of the ice berg of indicators that things aren’t over yet. In fact I’d say we’re about 1/3 of the way through (best case), 1/2 way through (worst case).
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ich1baN B_Musk
@B_Musk, Very good analysis B_Musk - I really like your thinking and agree 100% on thematic thinking - especially when Goldman is offering it to their wealthier clients. If they burn them, Goldman has nothing. They aren't going to offer their wealthier clients a bad investment product unless it has significant room to run.

Also - 100% agree on macro market timing :)
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B_Musk ich1baN
@ich1baN, Thanks! You nailed it. The toxic mix of the following beliefs: crypto markets are wholly unpredictable, indicators tell us everything, the crypto world has to follow the rules of the old financial markets, combined with the irrationality that stems from the traumas of past downturns and the irrational exuberance during bull markets leads to a lot of poor assessments by the general public.
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Cheers Champ, your inspirational.
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The Best!!
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ich1baN kliviarocha
@kliviarocha, thank you kliv :)
Reply
great update, thanks!
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ich1baN cryptobullethbtcxlm
@cryptobullethbtcxlm, thank you sir!
Reply
cryptobullethbtcxlm cryptobullethbtcxlm
@cryptobullethbtcxlm, ps: papa cryptobull was there to give you a sell and a buy signal ;) I remember you disagreeing with me... anyways big up to you! :)
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ich1baN cryptobullethbtcxlm
@cryptobullethbtcxlm, thank you sir and good call! Key me in on the next dip :)
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