we've been moving in this channel since 2017 and everytime we break trendlines, We retest it and continue to fall further.. now the scenario looks similar and positions should be kept active with utmost care. Will History Repeat? Will we see 12k BTC To buy Alts at cheap rates?
P.S : I Personally want 12k btc so i can buy alts there to see 40-50x Profits :D
i agree with you @gautuwuu, this is just a relief rally within a much bigger bearish downtrend that's gonna drag on until at least Q1 2022, the average crash is about 82-84% when considering every crash 10-12k seems very much possible, but look at 2011, 2014-15 and 2018 after a major cycle has ended, that average is about 88% and then that's when we could see prices sink as low as 7k where a previous supply line turns into a demand line and holds as a major support before starting the next supercycle
alinejadmori
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😂😂😂😂👎👎👎👎
gautuwuu
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@alinejadmori it may feel “lol”. But don’t forget to buy BTC cheap If my chart wins
You have a point. Specially, if MACD on monthly timeframe will make a bearish crossover. Right now, my bias is still on the upside this year. Let's see which chart will playout (Yours or mine).
@Ryzen7, Log charts can make trends more easily identifiable. Especially when you consider long-term.
Ryzen7
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@profitvortex, thanks
Kushman187
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These wild charts always make me chuckle. I highly doubt BTC sees below 20k ever again,ppl now realize how valuable it is in the long run.
This chart is flawed(like all charts) but in particular because it assumes way too much based on a tiny sample size of data;& it assumes that BTC will repeat despite there being once in a lifetime occurrences that affected the data(covid).
gautuwuu
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@Kushman187 inspite of the covid crash, BTC Respected my trendline. Also, I’m sure people like you didn’t believe on 27k when BTC Was trading around at 64k
Kushman187
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@gautuwuu, actually I have gotten in & out repeatedly & been right as my comments on here have been proven to be. Its always good for a laugh when ppl like you think BTC isn't a deflationary asset that steadily becomes more valuable as time goes on. Everytime BTC hits a new high thats multiple times higher than before. Theres far too many ppl/whales who would buy BTC & keep it from dropping anywhere near where it was in prior yrs.(because they know its inevitable that BTC will continue appreciating in value over the long term,as it has its entire existence.)
Also lol that you are acting as if it dropping from 66 to 28 & back up again to mid 40s somehow proves you're right in assuming it'll go all the way back down.