investigator
Short

BTC WEEKLY CHART "The Panic Zone" How many times?

BITFINEX:BTCUSD   Bitcoin / Dollar
76 0 2
As my great friend Thom said, "It's never too early to panic...." , and I ask rhetorically "How many times do you have to panic?" Well, I think three times is enough. This is the third visit to the zone and this drop looks like it has the makings of a finale. Riding on top of a 1 year old trend line , I would say chances are favorable for another look at BTC-$135. If you bought in at the historic breakout, a sell would have been in the cards at a rally breakdown below $338. I would gather your nickles once again for a lifetime opportunity below the blue line.

The reason for this failure? Lack of enthusiasm. Bitpay failed to capitalize on a golden opportunity to educate a new market of Bitcoin ignorant people at the Bitcoin Bowl. The plunge in the price of all commodities is making the dollar look strong. We know its not but nobody else seems to GROK that yet. Just wait until interest payments on the US debt exceed tax revenues. That inflection point is probably less than a decade away. And, now that the time square             party is over, people have left their trash in the street to wander home believing in the false peace of Republican power. When that dream shatters it will be too late. That dream will definitely shatter as Tweedledee takes over power from Tweedledum. They both look the same to me for some crazy reason. The only difference is that one of them tells the truth about their love of marxism and the other one lies about it. Forgive me. I digress.

Wait for an RSI bottom, huge panic volume , and an MACD low followed by a turn up. I think 4 to 8 weeks is about when but my crystal ball is not always clear.

Related Ideas

United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out