steelropes

Very detailed BTC/USD chart.. Studied this for hours in a lab..

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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My team and I spent 10,000+ hours in a lab to construct this very informative chart for you. 38k?

Orange EMA is the EMA 10 Weekly.

Red dotted is a 4hr s/r line.
Comment: Forgot to mention since it's not shown at bottom right this is in logarithmic scale

Comments

I honestly think, it will drop almost 30% from here.
+1 Reply
So many data points...Too much info here
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I get the sarcasm, but obviously no one in their right mind imagines a weekly close at 37. Neither would anyone in their right mind be waiting for 37 to be hit before lazying over to make a market order.
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never mind the people with no sense of humour
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I really hope your being obnoxious
I could of saved you 9,999 hours and 55 minutes.
If you studied that long you shouldn't have a ? Mark for anything
But yes until Sleepy Joe stimulus come in. A pullback has been expected.
Corporate quarterly rebalancing. Bonds and yields jacked up.
Interest rates still low. Many reasons.
But thank you for your analysis
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steelropes Legalizedhustler
@Legalizedhustler, Yes it was sarcastic. Bitcoin has not broken its weekly trend yet whatsoever! Saying 42, 38k, is just a crystal ball prediction. Orange line > Sleepy joe
+2 Reply
@steelropes,
There an ultimate "x" factor tho.
March 13th.
The 1yr date of the crash.
The media will be all over how much the markets are up 1 year to date of the crash. Of 2020.
Once they see btc will still be up 500-600% over that time. The real FOMO kicks in. And it just so happens that's the same date the approval of sleepy Joe stimulus signing the bill falls right on that date. People will be chomping at the bits to get into the stock ans crypto markets with the new money.
Herd mentality it never fails.
That's just me applying psychology to the trading.
I dont know that will be how it is. But I speculate that will be how it is.
The last week of March will be exciting. Up until then the corrections in all overall markets continue.
I agree with your sentiment of the correction as well.
+1 Reply
@steelropes,
35500 or even 30k seems reasonable with a retest of 1.1T total Marketcap retest. That will reset everything prebull run. Right in time for the fresh money.
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steelropes Legalizedhustler
@Legalizedhustler,

if it goes to 35k, newcomers will be permanently scarred and btc bullrun will be over
+1 Reply
@steelropes,
Newbies never scared cuz all they hear is 100k,500k. 1million for one btc.
They don't realize the pains to get to that point.
Fixated on one number. Most are naive.
Human nature.
I was there once and speak from experience
Yes next few weeks be interesting that's for sure.
It's a make or break for the market right now.
Keeping it close to 50k by the 13th is key imo.
Lots of similarities with bull run of 17-18 but also many differences. Havent had an alt season yet. A true one at least. Plus we are in the 4 year cycle right now that culminates in Dec. 2013-2017-2021. Max price Dec 2021 then the 80% drop.
Interesting times.
I appreciate the positive back and forth.
Logarithmic scale👍
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