Interesting slant, if you excuse the pun. Yes BTC could break out higher. I give it at most odds of 40:60 for it to exceed 11k this summer. It can certainly can happen, and I won't bet against it. People should definitely prepare for it for a breakout to the upside, with an exit strategy in place to recognize a failed breakout should it occur.
The problem I have with your charts is you are using 3 month candles for BTC, 1 month candles for Chainlink and 1 week candles for Kyber and you are saying their patterns are all the same. I could just as easily find a 4 hour chart with a similar pattern but that doesn't mean BTC's 3 month candle chart will follow its pennant pattern and break out of the pennant. I'd have more confidence if the charts were using the same time frame. And there are plenty of charts that break through the bottom of a pennant; Nov 2018 comes to mind. We can spend all day talking about the validity of chart formations, but there is an elephant in the room that we need to talk about.
The biggest detriment to BTC moving higher and staying higher is of course the economy. It is ugly. Real ugly. If the economy was my dog, I'd put a leash around its hindquarters and teach him to walk backwards. It's that ugly. We are going to see an economic collapse that would make the Great Depression look like a Sunday picnic that got rained on. There are still some months before the affects will really be felt by the general population. They are still getting high off of the gov't checks to be concerned. Some of them are making more on the handouts than they did at their job.
The general population still isn't into Bitcoin anywhere near where they were in 2017. Yes we have Wall Street at the table asking for seconds "Please sir, can I have some more?". But we also had our hopes (brains?) dashed by Bakkt when they arrived and hit us over the head with non-delivered BTC which was the direct opposite of what they promised. Prior to that we scoffed at the CME who suggested their Bitcoin futures was going to end our Bitcoin party in Dec 2017. If you are correct and it is Wall Street driving the surge higher, we have to put our trust in Wall Street not to screw us over yet again. Do you really think they won't do that to us again? They like to drive the price lower to scoop up more Bitcoin when we cry uncle. They like to break the backs of the hodler's until they can't take the pressure any more of seeing the price fall into the abyss.
Wall Street uses hope and fear to rob the citizens of any wealth they possess. As long as people still have a few Bitcoin to rub together, Wall Street will do their best to get their hands on it.
Don't get me wrong. Bitcoin will surge much higher some day. It will take a few bank closures, lost accounts or negative interest rates to wake people up that there is a problem with their banking system. Until that day happens, the sheep will remain asleep in the pasture, totally unaware of a storm that is coming.
anditfeels
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Hold on for a moment...did you just compared altcoins to BITCOIN? Not the opposite? 1 minite of wasted time is enough to close this video.
CryptoCheck-
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@anditfeels, I didnt compare Bitcoin to ALT coins ... You are obviously not a successful trader ... The name on the chart does not matter , its the pattern that is important . ZERO emotion to what the asset is , it could be a chart of jelly beans . Also the instutional buying and the increase in volume is important . If you dont want to watch dont watch
anditfeels
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@CryptoCheck-, You are obviously have no idea about me and what is even more obvious that you don't even know the basics. Keep telling people about your incredible "13 years of trading", maybe some fools will belive it.
CryptoCheck-
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@anditfeels, We will see where BTC will go ... Short term 8200 is possible longer term higher timeframes we go higher .. I would like you to tell me the basics please
anditfeels
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@CryptoCheck-, I don't have any lessons, I trade. But you can search for free. About your 8200...yea...your "13 years of trading" was worth it. Well done.
@CryptoCheck-, looks like you don't have "13 years of trading" after all, as long as you've made two statements about me and you are wrong about each. For your good I hope you are nothing, but a chart designer which is you are, this way you won't lose a penny.
Echo3Charlie
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@anditfeels, so sorry that your Lord and savior, BTC was blasphemed. So the guy does not post something that does not line up with every single element of your crypto paradigm ("BTC is King! Long love the King!) and without possibly looking at and contemplating the principles, you just get reactionary and pout. Get a life, loser.
anditfeels
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@Buttnugget, ouch...that hurts...someone like you. Is there something else to say? Your opinion is so important...I guess...
The problem I have with your charts is you are using 3 month candles for BTC, 1 month candles for Chainlink and 1 week candles for Kyber and you are saying their patterns are all the same. I could just as easily find a 4 hour chart with a similar pattern but that doesn't mean BTC's 3 month candle chart will follow its pennant pattern and break out of the pennant. I'd have more confidence if the charts were using the same time frame. And there are plenty of charts that break through the bottom of a pennant; Nov 2018 comes to mind. We can spend all day talking about the validity of chart formations, but there is an elephant in the room that we need to talk about.
The biggest detriment to BTC moving higher and staying higher is of course the economy. It is ugly. Real ugly. If the economy was my dog, I'd put a leash around its hindquarters and teach him to walk backwards. It's that ugly. We are going to see an economic collapse that would make the Great Depression look like a Sunday picnic that got rained on. There are still some months before the affects will really be felt by the general population. They are still getting high off of the gov't checks to be concerned. Some of them are making more on the handouts than they did at their job.
The general population still isn't into Bitcoin anywhere near where they were in 2017. Yes we have Wall Street at the table asking for seconds "Please sir, can I have some more?". But we also had our hopes (brains?) dashed by Bakkt when they arrived and hit us over the head with non-delivered BTC which was the direct opposite of what they promised. Prior to that we scoffed at the CME who suggested their Bitcoin futures was going to end our Bitcoin party in Dec 2017. If you are correct and it is Wall Street driving the surge higher, we have to put our trust in Wall Street not to screw us over yet again. Do you really think they won't do that to us again? They like to drive the price lower to scoop up more Bitcoin when we cry uncle. They like to break the backs of the hodler's until they can't take the pressure any more of seeing the price fall into the abyss.
Wall Street uses hope and fear to rob the citizens of any wealth they possess. As long as people still have a few Bitcoin to rub together, Wall Street will do their best to get their hands on it.
Don't get me wrong. Bitcoin will surge much higher some day. It will take a few bank closures, lost accounts or negative interest rates to wake people up that there is a problem with their banking system. Until that day happens, the sheep will remain asleep in the pasture, totally unaware of a storm that is coming.