We are still a few hours away from closing another bullish weekly candle. This will be another good confirmation that the multi-year trend-line is going to hold and the recent break above it was not just a fluke. The triangle at $8K also broke North as expected propelling the weekly candle into the green. As mentioned previously, the last time the price broke above the multi-year trend line it was followed by several weeks of bullish closes followed by a pullback to the trend and launch North again. Will history repeat? It's impossible to say, but it would be a good play if you can catch it. Assuming we still have a week or two of bull run left in this move I'm still expecting to hit the next two peaks ($10K and $11.6K) before a major retrace. Is this guaranteed? Nope, just a guess. I'm in for the long haul so it doesn't really matter to me. If I can I will buy more on the major dips and raise a little cash on the peaks if possible. All in all the majority of my long position will be offline in storage until at least this time next year, maybe longer. Much, much, longer.....
Good luck. And if you like these updates please give a thumbs up.
Good luck. And if you like these updates please give a thumbs up.
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Here is a 1 minute look before the close tonight. We are about 15 minutes away from another weekly candle. Will it be green or red? I think it will be green. The bears just don't understand that more people want to accumulate BTC than want to get rid of it. That's my opinion of course. The baby blue line is the weekly open. They are trying desperately to shove us beneath it. If they win, then yes, maybe it's time to hold off on the next buys until we get some pull back. If we close green, I'm sitting tight to my longs. At the end of the day I want BTC in my stack. Fluctuation in price is the least of my concern. Not having all I can get before the next moonshot is my concern. :0)
Good luck!
Good luck!
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Bless their hearts! They tried soooooooooooooooooooo hard but failed.
Again.
Again.
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Here is a current weekly view. We may crab walk to the right this week and next week too and then flash crash down to the multi-year trend line (baby blue). That is fine with me. I'm not bailing for a $1K dip at this point. There is just too much potential to the upside. Not advice, that's just what I am doing. If I were day trading, which I am not, I would place a stop well below the baby blue line in hopes that it would never get hit so I could stay in the trade as long as possible. But that's me. I'm still long, staying long, and if I can find any loose change in the couch I'm going to buy some more. :0)
Good luck!
Good luck!
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I almost forget! We also got the slightest of slight weekly cross. If we can maintain this and build on it. IT IS OVER FOR THE BEARS!!!!