white circle; the bulls failed, we're not going to break the OUTER long term trend line, they might make 1 last attempt, but it's just not going to happen, so no, the next peak is NOT going to be this year or next year for that matter, of course not.
blue circle; it might bounce off this level, you never know, but it's the UPPER long term trend line, so it just seems very unlikely.
purple circle; well, it's the MAIN long term trend line, so yes, very possible this might be the next bottom, so I'll be buying a bit, but not too much.
green circle; it's the BOTTOM long term trend line; of course there's a very high probability that we will at least get in the neighborhood, wait and see if we also break it, but as soon as it gets near that circle, I'll start buying and the lower it goes in that area, the more I'll be buying.
but either way; I'm not going into this bull market with an average above $5k, that's for sure
blue circle; it might bounce off this level, you never know, but it's the UPPER long term trend line, so it just seems very unlikely.
purple circle; well, it's the MAIN long term trend line, so yes, very possible this might be the next bottom, so I'll be buying a bit, but not too much.
green circle; it's the BOTTOM long term trend line; of course there's a very high probability that we will at least get in the neighborhood, wait and see if we also break it, but as soon as it gets near that circle, I'll start buying and the lower it goes in that area, the more I'll be buying.
but either way; I'm not going into this bull market with an average above $5k, that's for sure
Comment:
well, 1 week later and nothing really changed; the whales who pumped it from $4k to $5k have been selling, which is why it went sideways
it could go for 1 last little run up, but I doubt it will break $9k
but whether it does go up 1 more leg or not ... at some point it will drop and the numbers remain the same; at least $6k, probably $5k especially at first, before the first bounce up, but then it might still go for $4k or even $2k ...
this futile fomo run burned a lot of fuel and trust and goodwill etc ... this is going to hurt bitcoin for the rest of the year
I doubt that once it has corrected we'll see $8k again this year ...
but ok, all we can do right now is to wait a bit longer to see what happens, because it really could go either way
it could go for 1 last little run up, but I doubt it will break $9k
but whether it does go up 1 more leg or not ... at some point it will drop and the numbers remain the same; at least $6k, probably $5k especially at first, before the first bounce up, but then it might still go for $4k or even $2k ...
this futile fomo run burned a lot of fuel and trust and goodwill etc ... this is going to hurt bitcoin for the rest of the year
I doubt that once it has corrected we'll see $8k again this year ...
but ok, all we can do right now is to wait a bit longer to see what happens, because it really could go either way
Comment:
so, by now we touched $9k ... but barely
and although it looks like it might go up just a bit more, it's obviously weakening and whether not it gets to touch $9.5k or not doesn't really matter, for it to reach that price for a few hours ... that will just not be enough, it's supposed to break it; that's not going to happen and by now that's just even more obvious
and although it looks like it might go up just a bit more, it's obviously weakening and whether not it gets to touch $9.5k or not doesn't really matter, for it to reach that price for a few hours ... that will just not be enough, it's supposed to break it; that's not going to happen and by now that's just even more obvious
Comment:
10 months later ... and we're just getting back from going below $4k ... as usual; my timing is off, but I got those targets spot on
purple circle; well, it's the MAIN long term trend line , so yes, very possible this might be the next bottom, so I'll be buying a bit, but not too much.
I should have said; I'll be buying a bit, but not too much ... *at first or immediately*
I'll wait first to see if it drops even lower, but if it were to break out of that circle ... I'll start buying and once it really broke out I'll wait for 1 last dip and then I'll buy like crazy, as it could be it bounce of this level, it is the main long term trend line, which means; always good buy any way.
it's just that I'm going to wait first, in the hope that it will take a dive well below that line and then i'll be buying for sure and a lot
and if it were to go below $4k, that's when I'll start to use leverage to buy more more more