We are getting some movement on BTC and starting to flirt with this trend line. I want to point this chart out so people are aware. Most everyone has probably seen a chart like the above. Where people think BTC is going to go to 4k, then they have it going to the MOON right after, as seen above. I am here to tell you why that thinking is flawed at the present moment. Quite simply. If you think BTC is going to 50k. Does it matter if you buy at 4k or 6k?
No! It doesn't at all. You still make a ton of money if BTC goes up from 6k or from 4k to that type of dollar figure. Why wait to buy? Just start now and hold if you believe it's going to 50k. Look at the chart, it's been happening.
If you read my posts you know I was in the BTC going to 4k camp at one point. If it was going to go to $4,000 it would have folks. BTC has had plenty of time to do it. Let me lay out what I am SEEING happen right now, instead of forcing the typical "capitulation, despair cycle" post that I see so much on trading view. The cycle is compressing. Let me lay out the 2 things that lead me to believe this.
1. Volume. What makes an accumulation phase? It's when people dump, get tired of holding an asset or have to sell (capitulation) and the price doesn't break down and eventually sellers get worn out and it causes price to form a "base". Check it out the comparisons. Volume has been decreasing as the sellers have vanished. It makes sense that this cycle is quicker and compressed as BTC has proved itself in the markets and isn't going away.
2.Fractals. Compare the bubbles I drew from 2014-2015 to what is going on now. You get REALLY similar patterns. The one disparity between the 2 comparisons is the 4th bubble, in 2014, we created a higher high. Maybe we in June of 2014? Either way, we have very similar price movements and this leads me to believe we will soon break this trend line to the upside.
3. Weekly MACD cross to the upside!
Folks, it makes sense that this next cycle will compress and move up sooner. People are ALREADY aware, companies are making BILLIONS of dollars and people don't want to miss the next MASSIVE run up.
My bias is to the upside. Of course this is crypto, no one knows what will happen. If we break these trendline’s, we will surely be going to 10k. It’s hard to say if we will go to the ATH’s yet, we will have to wait and see whether or not we move sideways like a June 2014 move, or start rocketing up.
Follow me and I will be your guide!
Happy Hodling,
-Sherem
Does anyone else post their positions on TV for you? You all know I have been laddering in positions.
Here are my main positions right now with price averages from my ladders getting filled:
BTC: Long from 6.5k
ETH: Long from 300
BCH: Long from 550ish
LTC: Long from 55
XRP: Long from 33 cent, added at 50 cents.
FUNFAIR: Long from 2-3 cents (it's really cheap right now)
No! It doesn't at all. You still make a ton of money if BTC goes up from 6k or from 4k to that type of dollar figure. Why wait to buy? Just start now and hold if you believe it's going to 50k. Look at the chart, it's been happening.
If you read my posts you know I was in the BTC going to 4k camp at one point. If it was going to go to $4,000 it would have folks. BTC has had plenty of time to do it. Let me lay out what I am SEEING happen right now, instead of forcing the typical "capitulation, despair cycle" post that I see so much on trading view. The cycle is compressing. Let me lay out the 2 things that lead me to believe this.
1. Volume. What makes an accumulation phase? It's when people dump, get tired of holding an asset or have to sell (capitulation) and the price doesn't break down and eventually sellers get worn out and it causes price to form a "base". Check it out the comparisons. Volume has been decreasing as the sellers have vanished. It makes sense that this cycle is quicker and compressed as BTC has proved itself in the markets and isn't going away.
2.Fractals. Compare the bubbles I drew from 2014-2015 to what is going on now. You get REALLY similar patterns. The one disparity between the 2 comparisons is the 4th bubble, in 2014, we created a higher high. Maybe we in June of 2014? Either way, we have very similar price movements and this leads me to believe we will soon break this trend line to the upside.
3. Weekly MACD cross to the upside!
Folks, it makes sense that this next cycle will compress and move up sooner. People are ALREADY aware, companies are making BILLIONS of dollars and people don't want to miss the next MASSIVE run up.
My bias is to the upside. Of course this is crypto, no one knows what will happen. If we break these trendline’s, we will surely be going to 10k. It’s hard to say if we will go to the ATH’s yet, we will have to wait and see whether or not we move sideways like a June 2014 move, or start rocketing up.
Follow me and I will be your guide!
Happy Hodling,
-Sherem
Does anyone else post their positions on TV for you? You all know I have been laddering in positions.
Here are my main positions right now with price averages from my ladders getting filled:
BTC: Long from 6.5k
ETH: Long from 300
BCH: Long from 550ish
LTC: Long from 55
XRP: Long from 33 cent, added at 50 cents.
FUNFAIR: Long from 2-3 cents (it's really cheap right now)
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A previous analysis for reference:
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This idea was published on the dailyhodl, check it out! dailyhodl.com/2018/1...bullish-bias-intact/
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Lot of sideways movement still, we are holding this 6,500 as support.
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Check this out, we have compressed so much and are in these massive wedges -
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Chart update -
