I love charts. Tons and tons of data in a nice, pretty visual that is essentially like a roadmap of the journey an asset's price has taken. It's easy to get caught up in the news of the day when you're involved in an asset every day. Here is a weekly of BTCUSD. When you see on the news "BTC Crashing! BTC down 50% in the last 3 days!", etc, looking at a weekly chart is the equivalent of turning off the TV, walking outside into the sunshine, taking a deep breath, and getting some perspective on how the last 30 minutes is going to come and go just like every other 30 minute block in the last 30 years of your life.
Here is the last 3 years of BTCUSD. The green line represents the original trend BTC was on. The red line represents the new trend that broke away from the old trend when BTC hit 900 back in Oct-17. Think about all the FUD you've heard about BTC over the last 30 days, then take a look at a chart that represents the last 36 months. Paints a much different picture doesn't it? Now there is a very real possibility BTC can drop to 6k, even 4k, but for those of you who have been accumulating since it was 1k, who cares? If you're in this for the long haul, that's just more opportunity to buy. Those of who bought high, keep calm. You just need to be more conservative with your bets as time goes on. If BTC DOES drop to 6k, woohoo average down!
BTC has shows its capacity to increase in value to 20k a coin. It is absolutely possible it could do that again. For the time being though, we still have yet to break the red lower trendline, which is around 9k. This type of retracement is very healthy! A lot of the froth has been cleared, and big money BTC buyers have shown that they are willing to bet at a price point that supports a trend of a 2000% price increase over 14 months.
Keep calm, ignore the noise, stalk when there is blood on the streets, and make money!
Here is the last 3 years of BTCUSD. The green line represents the original trend BTC was on. The red line represents the new trend that broke away from the old trend when BTC hit 900 back in Oct-17. Think about all the FUD you've heard about BTC over the last 30 days, then take a look at a chart that represents the last 36 months. Paints a much different picture doesn't it? Now there is a very real possibility BTC can drop to 6k, even 4k, but for those of you who have been accumulating since it was 1k, who cares? If you're in this for the long haul, that's just more opportunity to buy. Those of who bought high, keep calm. You just need to be more conservative with your bets as time goes on. If BTC DOES drop to 6k, woohoo average down!
BTC has shows its capacity to increase in value to 20k a coin. It is absolutely possible it could do that again. For the time being though, we still have yet to break the red lower trendline, which is around 9k. This type of retracement is very healthy! A lot of the froth has been cleared, and big money BTC buyers have shown that they are willing to bet at a price point that supports a trend of a 2000% price increase over 14 months.
Keep calm, ignore the noise, stalk when there is blood on the streets, and make money!
Comment:
Broke through the red trendline, now on the original uptrend. If this green line break, expect more downside.