yes, we're in the new bull run, but that doesn't mean we're going to peak to 100k in a matter of months ... no, we're going to peak to 250k, but in another 2-3 years ... chill out already!
Yes, I know, I've been wrong all the time so far, but that's just fine, because if I'm wrong on this one as well I will make my conclusion; I'm the perfect counter indicator, which makes sense; I'm a very rational person, but people as a collective tend to act rather irrational, so I'll keep posting my rational ideas, to then trade the exact opposite of my own ideas; that works for me ... but ... wait and see, because we didn't reach 12K yet, as that's what's needed to come to this conclusion, so ... let's wait and see ...
All this time I've been calling for a massive correction, and I still am; it's just that I'm willing to move that top higher and higher ... and why? Because we need to see a new low first, we need a confirmation, but the only way to know if it's indeed the new low, is by waiting for the new high ... that's the rule, right?
please, feel free to correct me if I'm wrong about this, but give me a like if I'm right; first a new low, then a new high and then the fund manager are going to start buying ... right? ;-)
because as long we didn't see that correction, it might still drop below 3.2k; that's why it's so important to wait for the confirmation first.
I think it becomes more and more unlikely that it would indeed drop below 3.2k, but it's not impossible ... we can't say for sure; we first need to see that new low, followed by a new high and no, that 1 little drop from 8.400k to 7k is not going to do it ... there are still so many people waiting on the sidelines; I'm just 1 of them
we need to see that major correction first; once we've seen that AND then a new high ... only then we will see the type of bull run people expect to be happening now already.
I'll give the bulls $10.500, no problem ... but there's just no way we'll break 20k without a absolutely massive correction ... I can't even consider it.
I'm pretty sure that all those pension fund managers are thinking the same thing, maybe wait a bit more; textbook rule; first a new low, then a new high, we need that confirmation first, because as long we didn't get that ... it could still drop at any moment!! that's why that rule is so important!
let's assume we hit 10.5k and then a drop of about 40% to 6.5k and then we go up again to 11k ... yes, what I'm saying is that it's better to wait and buy at 11k than any other time in between ... if you want to play safe !!
and maybe you don't mind to take a gamble with your $1.000-$10.000, but to think that the fund managers are going to pour in billions and billions without that confirmation ... no, that's just not going to happen; we need to see that correction first, then the madness can start
but ... well, maybe I'm just in disbelief ;-)
if so ... fine; hope and optimism is next ... you know, right after the next correction ;-)
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PS: it starts to look like a fake out ...
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still in play
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I must admit, I didn't expect the fomo to be this strong, so I'm considering the possibility that it might indeed run up all the way to 100k and soon, which a lot of people think would be a good thing, because they don't realize that if that were to happen ... we'll have a extra long 4-5-6 years bear market after that
it shouldn't be too hard to figure out that as long bitcoin is not more convenient to use than paypal ... this is fomo and nothing else; fueled by leverage trading = fractional reserve lending and tether = counterfeit currency printing, not actual demand
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yes, I'm going to say it; although it might have seen as if I was wrong all of 2019 ... turns out I was 100% spot f'ing on all that time !!
i totally agree with you. I mean who is now stepping in. only the fomo will. en it only goes up without any retracement. thats not sustainable. There is a possibility that this short bullrun causes an extension of the bear market. and if it only goes and never correct, it should dive pretty fase i think. I also think that a lot of big players didnt step in yet, all because of the confirmation that never happened. so what the good time, so they wait.
I think 8990 til 9330 is an important level. if we break that one, we should see 10k.
MichielVan_Kets
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@hendrik87, thanks, it's nice to get confirmation from you that we did miss that confirmation and that the big money knows this as well
MichielVan_Kets
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@hendrik87, and it still has to break 9k first ... while it starts to look a lot like a fake out rather than a break out ...
hendrik87
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@MichielVan Kets, in my opinion the whole market is crazy right now. the 6000 range was a very big short squeeze but also in the weekend when there was less volume than normal. than you have stil some important levels that never got tested. like as 4200 4700 6200. when it retraces big players step in. they never got the chance. so probably this al have to do with the the tether pump and all. cause tether is now back at normal prices and the 800 million is back again. Also, bitcoin went in 2 months from bearish to extremely bullish. its funny to see how al the youtubers are so bullish. that indicates me that the greed is at his maximum. so exactly what the exchangens want. the most liquidity of stoplosses is i think in the 5k till 6k range. so it could cause long squeez in my opinion.
And than you got all the ico's who are funded by ethereum. they first have te get wiped out for a sustainable new bull run. and thats what i agree with you about the depression. i never saw one.
MichielVan_Kets
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@hendrik87, I take this very serious; if those whales don't get hurt real soon, I'll start working on a hardfork and I'll call it the paypal hardfork, because we would love to use bitcoin to do all those international payments do all the time as a company, but we can't change yet, we're stuck with paypal ... as long bitcoin is not better than paypal; a hardfork could work ... as long it's better than paypal then of course
if this fomo shit goes on for much longer I'll start a go fund me page ... seriously!
CryptoFrank23
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Think about it: we didn't have any real pullback for months. This is institutions buying up BTC little by little. There is no reason this won't continue for months. They can dump it on their clients in the future when all ETF's etc are launched. Guaranteed profit for them!
MichielVan_Kets
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@CryptoFrank23, for some part, sure, but ... it's not enough to have a bottom moment, there needs to be a bottom period, because that's when the problems are forced to be resolved, while right now, hardly anything has been resolved; sooner or later one of those problems will get out of hand and cause a drop ... and there are plenty of problems, so it will cascade
the higher it goes now, the more severe the drop will be, as right now, it really is purely speculative; paypal is still better ... bitcoin is not really gaining enough new markets, creating real demand and usage ... there's some, but not enough to justify these prices, that's why the NVT is so high
deactivatedaccount123
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When drawing a Fib you are suppose to anchor it to something.
Though the levels do line up well, that's not to say you could of anchored it (in thin air) much higher and gotten roughly the same results.
This is basically a floating fib retracement. There's no reason to think it will get as high as 10.5k based off of what your chart shows.I DO admit however that I think we could see that target regardless.
Still, it doesn't change that this TA has nothing actually backing it. The fib levels could be completely different and likely are.
well, it anchors to 1 of the previous highs, which was $10.500
but my point is that it doesn't really matter how high it goes now; I'm not fomo buying ... I'm waiting for that confirmation, then I'll sell the wife and go all in ;-)
and about the suppose to thing ... I'm just trying anything and everything, just to see what works
I bought my first BTC at $100 and sold it with pain my heart at $1000, because I knew it would go down again, so I had to sell, then bought back in 2015 between $200 and $350 ... etc etc ... long story short; I'm good at the long term thing, but now I'm trying to get better at short term trading, so I can do some swing trading; that's why I'm here
I like to think I'm getting better; this one is rather good;
not perfect, but good enough to trade on it ...
but right now I'm just fooling around with some pocket money,just to learn, as I'm waiting to put in the big bucks until we got that confirmation ... that's the point of this post
I think 8990 til 9330 is an important level. if we break that one, we should see 10k.