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
"In physics, horror vacui, or plenism (/ˈpliːnɪzəm/), commonly stated as "nature abhors a vacuum", is a postulate attributed to Aristotle, who articulated a belief, later criticized by the atomism of Epicurus and Lucretius, that nature contains no vacuums because the denser surrounding material continuum would immediately fill the rarity of an incipient void." -Wikipedia
We could also look at crypto and metals as the denser matter filling the sound money void.
Kewwvo
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@CaliberConcepts, Beautifully said.
I think this volatility we're seeing can be understood as vibrations of that matter,
pulsing, circulating, breathing in and out, expanding & contracting —
exploring how much space there is to fill ...
May we live to see the day it finds it's righteous place in this world.
Cheers
CaliberConcepts
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If we don't close the week above 12100, we might see how close to that gap we get. Personally, I'd like to help fill it. Bitcoin needs a solid historical base. (It doesn't rely on military bases to prop itself up.) Others have noticed the gap, too. Keep some dry powder, just in case.
We could also look at crypto and metals as the denser matter filling the sound money void.