In an Sec filing it has been noted that Musk purchased 1.5 Billion USD equivalent of BTC, causing me to speculate that Mike Saylor shared his 'playbook' with Musk before the conference held in Florida this past week. Remember, Saylor's conference was aimed at helping C.E.Os 'plug their balance sheets into the monetary network', to paraphrase Saylor....
I believe we may see a retreat to 9000, perhaps a 30% draw down in the event of a another collapse in confidence in the investment market in general. However, if that does not happen, I am very comfortable saying that the Fed and institutional investors have entered the room. Also, if you have not yet checked out www.citadel21.com go do so
Just wild speculation, like everyone else. I rolled the magic bones and this is what I came up with
Not to toot my own horn, but I called this move!! If you watch the chart play forward from my AUG 25th idea you will see I called to 'burn the dry powder'. Now is the time to pull the trigger. It broke my buy line that I had placed from early June (Dark Grey Line). *****on the 4 hr******** Oversold on the RSI BTC is still ABOVE the 2 yr Bear trend (Fat Red...
Sitting pretty in a decent correction. Time to burn that dry powder gang.
Breakout for BTC to the upside, looking for a confirmation of support at 10k after this short run, then either a continuation of the bull run or a complete breakdown to the high 7k's.
We have a lot more upside over the multi year downtrend. I am expecting to shoot past 10k, then retest 10k, then carry on higher or get rejected and break down again to high 7's. There is still a lot of room underneath the price, and I would still consider BTC tradeable. That being said, I am not a professional! Enjoy your Sunday!!! God Bless!!
Everybody was sure Friday was a rally, those of us in the know understand we have not yet reached the beginning of this market rout. Short everything until they wont let you anymore. Hug your family members. Remember, Jesus loves you and the bible predicted this a long time ago. It warned us that usury was a moral hazard. We are deflating the everything bubble...