I have a problem. I'm scarred and I'm not afraid to admit it.
Previous cycles' price action taught me to always think in terms of price negotiation — to zoom out and look for levels that seem relevant but somehow got overlooked by the market.
When we ran up to almost $14k last June for example, I couldn't help but focus my eyes on that mid $6k area ..
As a matter of fact, on the 2. April 2019 I was convinced we would consolidate down to the lower $4ks/ upper $3k; all that ended up happening of course was some chop-action for like 20 days or so ..
Similar thing happened in early May, when we got to $6k and I was so damn sure we'd see $5k again ..
In December 2019 i was happy with what we ended up getting and i got hyper bullish.
I found peace with the thought that the gap between $6k and $4k was an anomaly and that it would be unreasonable to expect another 40% drop after having dropped like 50% already ..
all i ended up doing was setting some alarms and buy orders lower, just in case, my lowest being at roughly $4300 ..
Now of course, nobody could have foreseen that ugly ass dip on that day in March 2020 and I'm not meaning to brag about anything on here! But all my orders eventually got filled
and long lived my longs ..
I was expecting some choppy times ahead, but holding $8k and then $9k made me *very* confident ..
And now we are here. And I'm as hyped as everyone and I understand that we are all chanting for this things' success and I truly believe that we'll see btc go to places unimaginable to most people ...
but I am reminded of something we have seen before and I believe that there's at least a possibility for roughly something like what I'm showing in this chart happening in the future.
This is by no means meant to be accurate timing wise! Also, $9k isn't an absolute must in my eyes (neither is $15k!)
I've been saying this a couple of times in the past: ~$10300 is the new ~$6500.
In my mind, even if we ended the year at ~$11k that'd be a good year — a fxcking crazy one, to be frank, but overall still good. Being up + ~60% YOY surely isn't the worst thing that can happen in these capricious times.
But it all could just as well happen in a couple of days and then we'd just have to reassess ..
That's it. Be careful out there.
Keep hodlin' on strong and don't forget to stack them sats regularly to build up that big fat devolatilized spot position of unimaginable future wealth :P
Previous cycles' price action taught me to always think in terms of price negotiation — to zoom out and look for levels that seem relevant but somehow got overlooked by the market.
When we ran up to almost $14k last June for example, I couldn't help but focus my eyes on that mid $6k area ..
As a matter of fact, on the 2. April 2019 I was convinced we would consolidate down to the lower $4ks/ upper $3k; all that ended up happening of course was some chop-action for like 20 days or so ..
Similar thing happened in early May, when we got to $6k and I was so damn sure we'd see $5k again ..
In December 2019 i was happy with what we ended up getting and i got hyper bullish.
I found peace with the thought that the gap between $6k and $4k was an anomaly and that it would be unreasonable to expect another 40% drop after having dropped like 50% already ..
all i ended up doing was setting some alarms and buy orders lower, just in case, my lowest being at roughly $4300 ..
Now of course, nobody could have foreseen that ugly ass dip on that day in March 2020 and I'm not meaning to brag about anything on here! But all my orders eventually got filled
and long lived my longs ..
I was expecting some choppy times ahead, but holding $8k and then $9k made me *very* confident ..
And now we are here. And I'm as hyped as everyone and I understand that we are all chanting for this things' success and I truly believe that we'll see btc go to places unimaginable to most people ...
but I am reminded of something we have seen before and I believe that there's at least a possibility for roughly something like what I'm showing in this chart happening in the future.
This is by no means meant to be accurate timing wise! Also, $9k isn't an absolute must in my eyes (neither is $15k!)
I've been saying this a couple of times in the past: ~$10300 is the new ~$6500.
In my mind, even if we ended the year at ~$11k that'd be a good year — a fxcking crazy one, to be frank, but overall still good. Being up + ~60% YOY surely isn't the worst thing that can happen in these capricious times.
But it all could just as well happen in a couple of days and then we'd just have to reassess ..
That's it. Be careful out there.
Keep hodlin' on strong and don't forget to stack them sats regularly to build up that big fat devolatilized spot position of unimaginable future wealth :P
