Jump to content
Eric123

Epic Pennant on BTC Chart

Recommended Posts

Guest
40 minutes ago, jMusic said:

I'm no TA expert, and I too have been watching it for months (and successfully trading it). I'm glad we are in agreement on what we are watching, but there's nothing bullish about a drop from 14,000 to 6,500. I'm sure you also realize that to say it keeps going down until it goes up, doesn't require a chart to predict :)

 

I guess the point I was trying to make was the difference between a channel, which is not necessarily expected to break one way or another, versus a falling wedge, which is expected to break upward.  

To your second point, yes, you could say a drop from 14000 to currently 7000 is bearish.  You could also say that the rise from 3000 to 7000 is bullish.  Or you could say the ongoing rise from $10 to $7000 is very bullish.  The long term trend for BTC is obscenely bullish, the intermediate trend is also bullish, the short term trend is bearish.  All depends on your time frame.

Share this post


Link to post
Share on other sites
1 hour ago, Eric123 said:

 

Getting a bit of a move today

Long margin interest continues to grow on Bitfinex 47,283.  I guess this is now irrelevant.

It wouldn't be irrelevant if we broke out on volume. It'd just look like another case of a whale with more info than we have.

He's probably just a punting BTC miner with more money than sense.......Right? Right? I dunno...

Share this post


Link to post
Share on other sites

Well it's Christmas Eve so if things go like last year we can expect a dump to occur at around Midnight 1am Eastern Time.  

The Long open margin trade on Bitfinex are still at record highs and continue to grow 47,550.

Short open margin is only 4,010.

During Christmas when everyone is waiting for Santa and volume is low has been a perfect time to manipulate the market.  I would guess we see a flash crash tonight. So you might want to put some low ball buy orders in.

12 24 19.png

Share this post


Link to post
Share on other sites
17 minutes ago, Eric123 said:

Well it's Christmas Eve so if things go like last year we can expect a dump to occur at around Midnight 1am Eastern Time.  

The Long open margin trade on Bitfinex are still at record highs and continue to grow 47,550.

Short open margin is only 4,010.

During Christmas when everyone is waiting for Santa and volume is low has been a perfect time to manipulate the market.  I would guess we see a flash crash tonight. So you might want to put some low ball buy orders in.

12 24 19.png

Let’s see what happens!  

Share this post


Link to post
Share on other sites

Once again resistance has become support and bollinger bands have flattened out.  I don't expect anything to really happen to January especially with some doubt in the air regarding Craig Wright's Tulip Trust no matter how doubtful it is.

On January 1, 2020 Craig Wright (self proclaimed Satoshi) has said that a courier will show up with the keys to 1,100,111 bitcoins  -  

https://news.bitcoin.com/23-days-until-a-bonded-courier-supposedly-delivers-keys-to-8-billion-in-btc/

Obviously this would throw a wrench in the works - if it happens.

 

12 26 19.png

Share this post


Link to post
Share on other sites
3 minutes ago, Eric123 said:

Once again resistance has become support and bollinger bands have flattened out.  I don't expect anything to really happen to January especially with some doubt in the air regarding Craig Wright's Tulip Trust no matter how doubtful it is.

On January 1, 2020 Craig Wright (self proclaimed Satoshi) has said that a courier will show up with the keys to 1,100,111 bitcoins  -  

https://news.bitcoin.com/23-days-until-a-bonded-courier-supposedly-delivers-keys-to-8-billion-in-btc/

Obviously this would throw a wrench in the works - if it happens.

 

12 26 19.png

I hate Craig Wright. Yet another reason why most people view Cryptocurrency as silly internet space money.

Share this post


Link to post
Share on other sites

@ManBearPig it's an interesting model. 

But how long can it really continue.

10x every 4 years.

So it plays out like

2021    $100,000

2025   $1,000,000

2029   $10,000,000

2033   $100,000,000

2037   $ 1 Billion

2041   $ 10 Billion

2045   $ 100 Billion

2049   $ 1 Trillion

2053   $ 10 Trillion

 

Share this post


Link to post
Share on other sites
1 hour ago, Eric123 said:

@ManBearPig it's an interesting model. 

But how long can it really continue.

10x every 4 years.

So it plays out like

2021    $100,000

2025   $1,000,000

2029   $10,000,000

2033   $100,000,000

2037   $ 1 Billion

2041   $ 10 Billion

2045   $ 100 Billion

2049   $ 1 Trillion

2053   $ 10 Trillion

 

I think it will ultimately be a shallowed out curve similar to the following link clearly showing strong but diminished growth. This is from mid 2018 and he almost called the low correctly!

https://www.tradingview.com/chart/BLX/uYKn9Nrx-Bitcoin-longterm-chart/?utm_source=amp-version&_gl=1*rtfg9a*_ga*RUY0dnlHaXFVSXA2R3hSbTB4TXAyelhlRUZEQVN3MXZOM1Z0d2N5bTJydzlCOENiajFWYVhrXzZzZWdJMVYxNQ..
 

But the logarithmic bitcoin curve does consider data from stock to flow ratios from gold and silver. Since BTC will be matching stock to flow ratios of gold shortly after this upcoming halving, it will be interesting to see if it can continue to track this growth. I certainly see strong upwards price pressures based on increasing stock to flows, central bank induced fiat inflation, and economic market cycle conditions condoning and encouraging accumulation of store of value assets. That doesn’t even consider the oversold (or is it?) crypto market in general.

Edited by ManBearPig

Share this post


Link to post
Share on other sites
3 hours ago, ManBearPig said:

think it will ultimately be a shallowed out curve similar to the following link clearly showing strong but diminished growth. This is from mid 2018 and he almost called the low correctly!

https://www.tradingview.com/chart/BLX/uYKn9Nrx-Bitcoin-longterm-chart/?utm_source=amp-version&_gl=1*rtfg9a*_ga*RUY0dnlHaXFVSXA2R3hSbTB4TXAyelhlRUZEQVN3MXZOM1Z0d2N5bTJydzlCOENiajFWYVhrXzZzZWdJMVYxNQ..
 

I think the chart has the lows too low and the highs too low, but maybe.

Share this post


Link to post
Share on other sites

Guys, sorry this is a bit off topic, but is there a section where I can see a list of the most active threads so I can catch up (besides the newspaper icon). Just wanna know if I’m looking in the eight place. Thank you for your time. 

Share this post


Link to post
Share on other sites

×
×
  • Create New...