I must admit I sold the 16.2k area on GBTC (17's) because I thought it would be some resistance (yeah I know without confirmation like a dumbass but it is what it is) and once we blew past I chased higher and no one should have sold that $24 spot but I didn't.
With that being said, once we blew past it 16.2k and it now becoming support is now looking more and more like reality. When everyone wants lower prices what happens? I think we are about to leave another gap on the CME's that will stay as open as the $9900 spot.
This is the 4th weekly close at these price levels. IMHO I think we close this week around 18.9k. (33hrs to confirm)
Like your analysis. It is a herd going the other way
johnmcal3
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Man, I am loving your work, I was literally just asking myself if anyone at all was seeing this...
There are factors at play currently, that previously have never had to be accounted for, new in and of themselves as of these moments.
There’s legitimately no indicators for many of the new dynamics. I’m just enjoying the ride and trying to capture the volatility where I can. You are right though, we taking the elevator up, and I would say will probably catch some momentum for some time, maybe around 6 til who knows when...
ENIGMA1440
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@johnmcal3, Thanks, man. Yeah, there are some large players in this asset this go around. I think large enough to make people chase and teach us Lil ol Crypto Traders a lesson. I will not short this and will try to gain on volatility (only with GBTC). But I gotta say with my spot BTC position I have added weekly no matter the price since 2017. (I did sell 17k and start adding weekly again at 6.5 and will continue to do so until after 33k as I think that's the bottom of the next cycle. This is a wild ride! ENJOY IT!
johnmcal3
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@BitFink, I really like how you think man, thoughtful, and methodical, just what’s needed to do well in this market. I purchase options mostly though, I would love to just hold coin but, this is what will allow me the most buying power when I do make my grabs. So what are your thoughts after we make ATH, do we drop? I really think that the institutional FOMO WON’t permit much of one, their positioning this as the next reserve currency. Anything under a million is a steal to them if you really consider the long game. What say you?
ENIGMA1440
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@johnmcal3, IMHO it plays out something like this... That would catch EVERYONE of guard! I think 1 million is a guarantee by the end of this decade. I think there's a possibility of 10 million. I think it ranges in that area forever...
johnmcal3
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@BitFink, I couldn’t agree more, and you know they’re seeing a bigger picture, hence the ginormous sums being thrown at it. And 10,000,000 is what he engineered it for, and at this point I would say he knows best...I’ll being looking forward to your charts. Say hey anytime man.
PolarHusk
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profit taking area near ath 🐻❄️🙏😊😃
EileenBarton
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Ahh nice!! I want to learn technical analysis and make my own predictions like yours!