JohnSnowWolf

Btc idea based on lines and waves

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
For future reference. Do I want to see Btc hit $7.4k, not really. But it wouldn’t be crazy for that to happen. Would just prolong the consolidation. I’ve asked some smart men about Btc hitting ath this year and they were confident it wouldn’t. I’ve also seen traders I respect call for 18k this year and probably ath .

Point is, no1 knows. But we can plan the trade and trade the plan. I got into xrp and Ltc way lower, so I don’t really want to see Btc drag the market down anymore honestly.

What’s interesting is the connections between the gold markets, stock markets, and crypto markets. What’s also interesting is the saying that goes a little something like this’ “wealth is just money being transferred from the impatient to the patient.” Something like that.

Point being bitcoin will be much higher after the halvening this year, I believe, because the amount of bitcoins created is reduced by half. Don’t you think it’s something that companies are building the largest Btc mining projects, currently. Let’s assume they made the decision with a team of big brains who all have networks who understand that BtC mining isn’t a waste of millions of dollars.

Companies go and do dumb things all the time and that may be one of them, but I’m not quite sure, sorry.

Sell side pressure will reduce as the buy side will rise. That creates higher lows on the chart. Price discovery based on log arc or fib levels give us a good idea. Basically there’s three log calls, $90,000, $180,000, $300,000+.

Then you have people using Elliot counting bitcoins inception wave as wave 1, which can’t be true because there isn’t 5 sub waves in there, so, this isn’t wave b or c of the correction from $20,000. Or is it?

Some people would have you believe that price on my chart will fall straight through the yellow trendline and go all the way back to $358, only to rebound to $34,000 or whatever.

Usually truth is somewhere in the middle. You got to love the stock to flow model planB on twitter uses. Pretty neat chart.

Whatever you are doing out there just make sure you can afford to lose all your investments after finishing this sentence. Gone. What would you do? Get depressed? If your allocated correctly your buy when the candles are red and sell when the candles are green. Just make sure you could afford to lose it all.

Trade active: Looking good so far. How are you holding up?

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