Somebody please explain to me how this could not be possible.
Tell me we are never replicating this 84% drop ever again when all Bitcoin does is repeat cycles and cycles rhyme.
Could any concrete fundamentals ever defy this move from ever happening.
There's so much money that could still be taken away from the 13K top, just like how bears took out 84% of the money that was piled up in December 2018 to almost 20K.
All this is just a thought, don't take it seriously.
Constructive and positive comments are welcome. Be courteous.
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More Power To All Your Trades, Ron (The Intrepid Trader)
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The Calm Before The Storm. Chart now has Conglomeration Of Bullish Signals.
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Pretty close.
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Well this 84% correction is close to fruition.
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Finding the support level with confluence of trend lines.
In my opinion this is not possible for 2 reasons:
1- The time period you have on the left is POST halving. We are currently PRE halving. It would be like comparing the US Federal Debt POST QE (money printing) and PRE QE as the same, when in fact the supply is being changed.
2- Using a logarithmic scale (expression) allows price and stock to flow to have a linear correlation. So the regression can be used with the power law function (which models halving). This is why curved lines work best and why halving has 10X price correlation every time. - PlanB - Outstanding Video where he describes (made 10/31/2019) so its new :) youtube.com/watch?v=8mt7gcjCaJs&t=3016s
Just take a https://breather...https://www.youtube.com/watch?v=3-vFYl0F8Fc
Watch this and laugh.
Still love your work bro. Hope the first link helps with logic and the second helps you laugh.
RSibayan
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@jbird7839, This is why I love this community of professional traders. So much to learn from learned people who can bring out and express their thoughts comprehensively. I wish to thank you for your input and I'm pretty sure my followers will see your post and will appreciate your thoughts. Will be watching the videos you shared. Again, thank you for helping the trading community. You rock! More power to you and may all your trades be profitable, brother!
MoneyPatterns
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@RSibayan, Thank you dude. I try to give my opinion, but then give some news or evidence of why I think this way.
I am very happy with this community and all the interaction, agree or disagree.
Glad to help if I can. If we all give back a little, the world is better.
Thank you for being one of the great members here too. :)
To echo jbird7839's sentiment, I expect the halving to have a significant impact on price; it's simple supply and demand.
That said, while I don't expect this to happen, I would not say this scenario is "impossible". What that impact the halving will have be has yet to be seen. It's always possible that it's been priced in early or that it will be underestimated.
It's times like these that test our resolve and trading abilities. After this parabolic run up, I expected a pull back to the low 7k, but when the time came, I only bought back in with a portion of my crypto allocation instead of being fully vested as I had originally planned. That trade would have worked out perfectly for me in hind sight, but it could also have reversed without me or kept dropping. I am now seeing that money and risk management is more important to trading than analysis and making good calls.
RSibayan
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@ErroneousLogic, I agree, it is indeed very important to respond to what the market throws at you at any given moment and to be managing risks. I’d add that a good trader has to play this market like a chess game, and be two or even three steps ahead of the herd.
RSibayan
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Thank you for sharing your thoughts with this community. You are highly appreciated.
1- The time period you have on the left is POST halving. We are currently PRE halving. It would be like comparing the US Federal Debt POST QE (money printing) and PRE QE as the same, when in fact the supply is being changed.
2- Using a logarithmic scale (expression) allows price and stock to flow to have a linear correlation. So the regression can be used with the power law function (which models halving). This is why curved lines work best and why halving has 10X price correlation every time. - PlanB - Outstanding Video where he describes (made 10/31/2019) so its new :) youtube.com/watch?v=8mt7gcjCaJs&t=3016s
Just take a https://breather...https://www.youtube.com/watch?v=3-vFYl0F8Fc
Watch this and laugh.
Still love your work bro. Hope the first link helps with logic and the second helps you laugh.