I can see all obstacles in my way (the the Moon)
Gone is the grey cloud hangin' over me.
It's gonna be a fine, fine, fine, Fun trading day!
I am looking at some basic math based over the last 10 years or so of bitcoin since it first went on the very first exchange.
at the moment, short term, we seem to be in a range that has very little history, so we're in almost new territory, in a way. if you think about it, we've only ever jumped up through it back in Oct. 2017 and dove through it in Nov. 2018. And only since the ~$1k price ump from about $4k to about $5k at the start of April 2019 are we in the $5k - $6k range. So we're plodding along in a place where bitcoin's never really rested before.
Now what's interesting is we're in a place where you can probably place a good trade in either direction without too much risk. Arguments for movement in up, down or sideways all have good points to them.
Which way will it go?
I don't know. I just know I've put in my moves for whichever direction it goes and probably I'll be happy with the outcome. And if not, well my losses won't be very big so that's ok.
I don't look for moonshots. Though they're fun when they happen, I prefer more reasonable probabilities, usually. Reliability goes a long way in trading.
On the longer term side of things, I am bullish, and probably unreasonably so. Maybe a little. The thing is, we only have 10 years of data. Yet we already have 7 bull cycles in the bag, and we're basically starting our 8th one now or soon, once all the chattering classes "confirm" what the sentiment has long since said: Crypto Winter ENDED in 2018 when BTC hit the low $3ks.
Yeah, yeah, I'm not a financial advisor and this isn't financial advice and you should do your own research. But don't look a gift horse in the mouth. Don't wait to be a victim of FOMO. Bitcoin has so many buy orders at $5k, $4k, $3k, $2k and even $1k set by big time traders just praying on a massive momentary dip ... you can probably forget about seeing those lows ever again.
If you just look at the straight up math, BTC could (slight chance but possible) go hyperbolic and even hit 6 digits THIS YEAR (2019). I do not believe it will do that well, though it could easily get to around the $40k - $80k range. And if it matches its past performance, it will be a six figure coin, easily, somewhere in the timeframe of July 2019 to February 2020, with October 2019 being the middle of that timeframe and the month it should happen according to the actual performance averages bitcoin has delivered to date.
Here's a video that someone explains it with a spreadsheet etc.
https://www.youtube.com/watch?v=pc9TLhuvSPk
Thought it seems clear and logical. Reproduced what's in the video and did not find mistakes.
Please comment if you see any obvious mistakes.
Thank you for your time and consideration.
Gone is the grey cloud hangin' over me.
It's gonna be a fine, fine, fine, Fun trading day!
I am looking at some basic math based over the last 10 years or so of bitcoin since it first went on the very first exchange.
at the moment, short term, we seem to be in a range that has very little history, so we're in almost new territory, in a way. if you think about it, we've only ever jumped up through it back in Oct. 2017 and dove through it in Nov. 2018. And only since the ~$1k price ump from about $4k to about $5k at the start of April 2019 are we in the $5k - $6k range. So we're plodding along in a place where bitcoin's never really rested before.
Now what's interesting is we're in a place where you can probably place a good trade in either direction without too much risk. Arguments for movement in up, down or sideways all have good points to them.
Which way will it go?
I don't know. I just know I've put in my moves for whichever direction it goes and probably I'll be happy with the outcome. And if not, well my losses won't be very big so that's ok.
I don't look for moonshots. Though they're fun when they happen, I prefer more reasonable probabilities, usually. Reliability goes a long way in trading.
On the longer term side of things, I am bullish, and probably unreasonably so. Maybe a little. The thing is, we only have 10 years of data. Yet we already have 7 bull cycles in the bag, and we're basically starting our 8th one now or soon, once all the chattering classes "confirm" what the sentiment has long since said: Crypto Winter ENDED in 2018 when BTC hit the low $3ks.
Yeah, yeah, I'm not a financial advisor and this isn't financial advice and you should do your own research. But don't look a gift horse in the mouth. Don't wait to be a victim of FOMO. Bitcoin has so many buy orders at $5k, $4k, $3k, $2k and even $1k set by big time traders just praying on a massive momentary dip ... you can probably forget about seeing those lows ever again.
If you just look at the straight up math, BTC could (slight chance but possible) go hyperbolic and even hit 6 digits THIS YEAR (2019). I do not believe it will do that well, though it could easily get to around the $40k - $80k range. And if it matches its past performance, it will be a six figure coin, easily, somewhere in the timeframe of July 2019 to February 2020, with October 2019 being the middle of that timeframe and the month it should happen according to the actual performance averages bitcoin has delivered to date.
Here's a video that someone explains it with a spreadsheet etc.
https://www.youtube.com/watch?v=pc9TLhuvSPk
Thought it seems clear and logical. Reproduced what's in the video and did not find mistakes.
Please comment if you see any obvious mistakes.
Thank you for your time and consideration.
Join Alpha Trading's discord at AlphaTradingHQ.com/discord to get free access to the Volatility Starter pack of indicators and chart!