Good Morning my fellow Bitcoinistas! I am still pondering how this 3rd corrective pattern will end, but end it will. And when it does end WATCH OUT MOON !
For those of you new to my work I am still 100% long Bitcoin and have always held a small long position since 2013. Yes, I have traded a little BTC here and there over the years and taken some profit but my primary focus has always been to accumulate as much as I can before the big pay day arrives.
Well....... I think the big pay day is about to arrive. Or should I say the beginning of MANY big pay days is about to arrive. Or better yet, the first big pay day of a life of pay days is quickly approaching. Yes, I believe that if you hold enough Satoshi now you may soon be able to start taking a weekly or monthly pay check against them for the rest of your life. If you have an entire Bitcoin or more you may be able to not only take a pay check every week for the rest of your life but pass down generational wealth to your family too. It may still take a few years to reach that extreme level but I believe it is very possible to see in your life time if you are 70 or younger right now assuming you make it to at least 80. That's right, in less than a decade if it event takes that long. Look how far Bitcoin has come in one decade when NOBODY was watching. Now the entire world is watching and all the Big Players are lining up to take their piece of the pie. No matter what the pie is, and no matter how small or how large the pie is, these people ALWAYS have believed that it is their God Given right to own the majority of the pie. Am I wrong? They have done it with Stocks, Bonds, all Commodities, Real Estate, Currencies of the world, etc. etc. They gobble up anything and everything of value and leave the scraps for the rest of the population. What do you think they are about to do with Bitcoin ?
I thought at first, maybe they are buying up Bitcoin so they can destroy it. For what? So all of their paper denominated assets go to zero as the dollar continues to lose value or hyper-inflates to zero? No, that can't be it. They don't want to save the dollar. They couldn't give two shits about the dollar. What they want to save is their wealth and power. For the really rich, and the really wise, hanging on to a dying financial system and debt based monetary system does not make any sense. What does makes sense is for them to protect the dollar and prop it up just long enough form them to make their escape into something new. They know that the old financial system is going down and anything attached to it will go down with it. They KNOW this.
So what is their answer? In a word - Bitcoin
Bitcoin is the only financial asset available that has absolutely no counter-party risk when you hold your own keys. Not even gold or silver can make that claim when it is stored in somebody else's vault. They need a life boat that is completely independent of any of the other financial markets that my implode from their mismanagement.
So when other markets and currencies decline where are the value of those dollars going to go? For the well informed they are going into Bitcoin. For the brainwashed bag holders their dollars will ride those markets down to the basement.
You are the fortunate ones in my opinion because you are paying attention and taking action. Others just think Bitcoin is another fad that will soon pass like cell phones or the Internet. Too bad for them. Crypto will soon be running the world and you are either ahead of the curve or you are not. By the time most people come to this epiphany it will be too late for them. They will remain the day to day debt slaves they've always been working paycheck to paycheck just to make ends meet. Even after their paychecks are denominated it Satoshi it will be too late for them to amass great wealth starting from zero. One benefit on their side, however, is that anything they save in Bitcoin will not be eaten away by inflation like their dollars of the past. So in that situation even the lowly savers might have a chance to put together a little nest egg for themselves over time unlike today.
YOU HOWEVER HAVE A ONCE IN A LIFE TIME OPPORTUNITY IN FRONT OF YOU RIGHT NOW!
Yes I meant to yell. I needed to get your attention and I'll end this extra long monologue with these final thoughts: Trading is a great skill if you are good at it. Those that are good at it have made tremendous profits in terms of dollars over the years. I, however, have never been particularly great at trading. I have done very well recognizing trends, patterns, and looking long term down the road while others are looking short term at their own selfies but I am not that great at perfectly trading those ideas. That's why I HODL more than trade. I, and I suspect you, have been blessed with the curiosity of looking for what is NEXT instead of just focusing on the nonsense that is dangled in our face every day. I believe what is next is Bitcoin and I believe that now it is the time to HODL and accumulate more than it is time for trading. (unless you are really good at it) I thought about raising cash at the peak of the next move but where is that? How high will it go? When will it turn? Will it turn? I don't know. What if it goes lower? How much lower will it go? I don't know. The market has done a particularly good job this time of disguising its intent. So even though I can't tell exactly what the price is going to do next based on looking at the charts (that which is dangled in my face) I can get a good idea of what is coming next by watching what the big money players are doing. What are they doing? Buying massive quantities of Bitcoin OTC and spending millions and million of dollars to build out the infrastructure needed to promote their new found investment of the century - Bitcoin.
I have long believed that the easiest way to get rich is to watch what the rich people are doing and then do that. Well, we finally have a vehicle available in which we can do exactly what they are doing even before many of them get to do it themselves. We all have the ability to buy and hold Bitcoin NOW. But what happens when all of the available supply is gone? The early opportunity is gone too. Think about that for a minute. What happens when all of the available bitcoin is sucked up into their new financial system, contracts, etc? How does the average Joe get any? Answer: He works his ass off to earn it. Just like he does today for the dollars he earns.
That's why I am still buying and HODLing as much as I can regardless of price. I am buying my future pay checks now while they are still cheap rather than continue to work for them later. If I am wrong I'll never be wealthy. But that was never really an option anyway before Bitcoin. So what do I really have to lose by holding Bitcoin?
NOTHING
BBS out.
P.S - If you have an answer as to what type of corrective pattern will complete the over all Double Three correction I'd love to see it.
Thanks.
For those of you new to my work I am still 100% long Bitcoin and have always held a small long position since 2013. Yes, I have traded a little BTC here and there over the years and taken some profit but my primary focus has always been to accumulate as much as I can before the big pay day arrives.
Well....... I think the big pay day is about to arrive. Or should I say the beginning of MANY big pay days is about to arrive. Or better yet, the first big pay day of a life of pay days is quickly approaching. Yes, I believe that if you hold enough Satoshi now you may soon be able to start taking a weekly or monthly pay check against them for the rest of your life. If you have an entire Bitcoin or more you may be able to not only take a pay check every week for the rest of your life but pass down generational wealth to your family too. It may still take a few years to reach that extreme level but I believe it is very possible to see in your life time if you are 70 or younger right now assuming you make it to at least 80. That's right, in less than a decade if it event takes that long. Look how far Bitcoin has come in one decade when NOBODY was watching. Now the entire world is watching and all the Big Players are lining up to take their piece of the pie. No matter what the pie is, and no matter how small or how large the pie is, these people ALWAYS have believed that it is their God Given right to own the majority of the pie. Am I wrong? They have done it with Stocks, Bonds, all Commodities, Real Estate, Currencies of the world, etc. etc. They gobble up anything and everything of value and leave the scraps for the rest of the population. What do you think they are about to do with Bitcoin ?
I thought at first, maybe they are buying up Bitcoin so they can destroy it. For what? So all of their paper denominated assets go to zero as the dollar continues to lose value or hyper-inflates to zero? No, that can't be it. They don't want to save the dollar. They couldn't give two shits about the dollar. What they want to save is their wealth and power. For the really rich, and the really wise, hanging on to a dying financial system and debt based monetary system does not make any sense. What does makes sense is for them to protect the dollar and prop it up just long enough form them to make their escape into something new. They know that the old financial system is going down and anything attached to it will go down with it. They KNOW this.
So what is their answer? In a word - Bitcoin
Bitcoin is the only financial asset available that has absolutely no counter-party risk when you hold your own keys. Not even gold or silver can make that claim when it is stored in somebody else's vault. They need a life boat that is completely independent of any of the other financial markets that my implode from their mismanagement.
So when other markets and currencies decline where are the value of those dollars going to go? For the well informed they are going into Bitcoin. For the brainwashed bag holders their dollars will ride those markets down to the basement.
You are the fortunate ones in my opinion because you are paying attention and taking action. Others just think Bitcoin is another fad that will soon pass like cell phones or the Internet. Too bad for them. Crypto will soon be running the world and you are either ahead of the curve or you are not. By the time most people come to this epiphany it will be too late for them. They will remain the day to day debt slaves they've always been working paycheck to paycheck just to make ends meet. Even after their paychecks are denominated it Satoshi it will be too late for them to amass great wealth starting from zero. One benefit on their side, however, is that anything they save in Bitcoin will not be eaten away by inflation like their dollars of the past. So in that situation even the lowly savers might have a chance to put together a little nest egg for themselves over time unlike today.
YOU HOWEVER HAVE A ONCE IN A LIFE TIME OPPORTUNITY IN FRONT OF YOU RIGHT NOW!
Yes I meant to yell. I needed to get your attention and I'll end this extra long monologue with these final thoughts: Trading is a great skill if you are good at it. Those that are good at it have made tremendous profits in terms of dollars over the years. I, however, have never been particularly great at trading. I have done very well recognizing trends, patterns, and looking long term down the road while others are looking short term at their own selfies but I am not that great at perfectly trading those ideas. That's why I HODL more than trade. I, and I suspect you, have been blessed with the curiosity of looking for what is NEXT instead of just focusing on the nonsense that is dangled in our face every day. I believe what is next is Bitcoin and I believe that now it is the time to HODL and accumulate more than it is time for trading. (unless you are really good at it) I thought about raising cash at the peak of the next move but where is that? How high will it go? When will it turn? Will it turn? I don't know. What if it goes lower? How much lower will it go? I don't know. The market has done a particularly good job this time of disguising its intent. So even though I can't tell exactly what the price is going to do next based on looking at the charts (that which is dangled in my face) I can get a good idea of what is coming next by watching what the big money players are doing. What are they doing? Buying massive quantities of Bitcoin OTC and spending millions and million of dollars to build out the infrastructure needed to promote their new found investment of the century - Bitcoin.
I have long believed that the easiest way to get rich is to watch what the rich people are doing and then do that. Well, we finally have a vehicle available in which we can do exactly what they are doing even before many of them get to do it themselves. We all have the ability to buy and hold Bitcoin NOW. But what happens when all of the available supply is gone? The early opportunity is gone too. Think about that for a minute. What happens when all of the available bitcoin is sucked up into their new financial system, contracts, etc? How does the average Joe get any? Answer: He works his ass off to earn it. Just like he does today for the dollars he earns.
That's why I am still buying and HODLing as much as I can regardless of price. I am buying my future pay checks now while they are still cheap rather than continue to work for them later. If I am wrong I'll never be wealthy. But that was never really an option anyway before Bitcoin. So what do I really have to lose by holding Bitcoin?
NOTHING
BBS out.
P.S - If you have an answer as to what type of corrective pattern will complete the over all Double Three correction I'd love to see it.
Thanks.
Comment:
Push play button and then mentally move the green line to the left a bit. A very good fit for what may be at play right now....
Trade closed: target reached