I figured that if there is a bull case then this is it. Nobody is buying bitcoin for it to stop at 100k, probably not even 140k. That being said... WE COULD BE IN A BEAR MARKET.
I feel that 20k is a reasonable target for a bear market in a matured - ish - bitcoin.
That being said, I can lose roughly half my money, or gain 3-4-5x
The odds seem okay, Ill take a...
I am looking for a buy in the 11,000-20,000 range. If we go up before we get there then that is fine. The rising wedge would be the worst case scenario for Bears IMO, but then again it will provide even more downside to short if it occurs, as is the silver lining.
I set a stop loss in the picture, but in my investing I do not use a stop loss, I just add more if it goes lower and my conviction remains.
This looks like capitulation to me, it is a very premature buy by most standards, I love catching falling knives. The RSI shows that preliminary support was much higher, and as it trends up while making lower lows in price I...
This could be a once in a life time opportunity, or it could never happen at all. But are you ready for it if it were to manifest? Personally I would step in and buy this dip. I am sure a lot of people now say that they would, But under this scenario I think that people will be scared that it is the end.
Not financial advice just ideas
So I figure that during a time of hyper inflationary currencies, it would be best to compare bitcoin to a basket of stocks. Asset vs Asset.
this is what we have as a chart when we do that. We can see it is down trending vs other assets.
Even though it is going up in USD terms, we could argue everything is, including my bag of potatoes.
I think bitcoin WAS the...