Thanks for posting. Risk/reward just isn't there for me to short because once it gets rolling, BTC ignores linear technicals and divergences and moves to parabolic-based technicals.
However, I do agree we're close to a top, but only a local one, and not THE top, which is probably 3 bottles of antacids from here. We could also retrace 30% on a quick wick or two, but the FOMO hasn't even begun yet, exchanges have been seeing net outflows, including newly-minted coins. Also,1Q earnings reports begin this week, and will provide info on institutional buying of coins that will likely remain in cold storage for longer periods than in prior cycles. This will also likely produce a higher low in the next cycle.
I'll try hard to buy dips below 50k, but I'm not sure I'll see them for long enough to get filled. There are too many people who missed this run and want so badly to pull the trigger.
trickx1
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@theworldinscents, good ideas, but it could come down sooner than you think, should be within the next week or two. You should see a spike up before the reversal to the down side. The 30% retracement will shake out any weak long positions and allow smart money to accumulate more on the way down to about 40,000.
The long term trend will remain in place and price for bitcoin is likely to continue to go up above 80,000 within the next 3 years.
However, I do agree we're close to a top, but only a local one, and not THE top, which is probably 3 bottles of antacids from here. We could also retrace 30% on a quick wick or two, but the FOMO hasn't even begun yet, exchanges have been seeing net outflows, including newly-minted coins. Also,1Q earnings reports begin this week, and will provide info on institutional buying of coins that will likely remain in cold storage for longer periods than in prior cycles. This will also likely produce a higher low in the next cycle.
I'll try hard to buy dips below 50k, but I'm not sure I'll see them for long enough to get filled. There are too many people who missed this run and want so badly to pull the trigger.