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Epic Pennant on BTC Chart


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Interesting how well Bitcoin is staying within the trend lines.  The way it behaves reinforces my belief that the cycles are still continuing.  A close above $10,270 today breaks above the trend line.

Nice to see Max Keiser raise his bitcoin target to just about where I have my bitcoin target. As I've said before, it always surprises to the upside.

 https://cointelegraph.com/news/bitcoin-will-surge-to-400k-max-keiser-quadruples-btc-price-forecast

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Just taking the time to say a huge thank you to you @Eric123. I have been reading this thread daily for a long time now. I don't often sign in to post something so this thank you and acknowledgment of

Well guys for those of you that got in late 2017, this is what the beginning of a Bull Market feels like.  There will be ups and downs of course, but it will get much crazier with much higher valuatio

I was a bit bored, so I decided to analyse the reactions in the first 404(!) pages of this thread. In those 404 pages, 3938 comments received a reaction, and in total there were 11515 reactions g

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19 minutes ago, Eric123 said:

Nice to see Max Keiser raise his bitcoin target to just about where I have my bitcoin target. As I've said before, it always surprises to the upside.

https://cointelegraph.com/news/bitcoin-will-surge-to-400k-max-keiser-quadruples-btc-price-forecast

"Meanwhile, one historically accurate technical indicator has calculated an average price of $100,000 for the period between 2021 and 2024."

Would you or someone know what/which indicator this is? 


 

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Price has seemed to stabilize after the massive slam down yesterday.  Bitcoin's price has fallen below the recent up trend line.  I'm going to use this opportunity to pick up some XRP.  If I was trading short term I'd be buying Litecoin here and selling when it hits 80 again as Litecoin seems to be the most volatile. 

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Zooming in to show why down impulse should be complete...

Cycles22020-2.thumb.png.28c7144be982ad4a714273bda2b027c3.png

Note the hand-drawn yellow circle. It is frequently observed that the displaced MA's (red, green and blue lines) will cross (or get very close to crossing) at the mid-point of an impulse. By definition the MA's are displaced so there is a degree of projection required to estimate the crossing point, but historical crosses have demonstrated repeatedly that this is an accurate conclusion.

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I really hate the times when a hopeful rise has been beaten down and it’s the end of the week because the weekend softness will often mean a weekend long slump.

So I must admit I am thinking the price will fall further over the next two or three days.  Bugger.   I hope I am wrong,

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Bitcoin is drifting back up again.  Litecoin is the big mover though, up over 5%.  Litecoin is a trader's dream.

Peter Thiel's Layer 1 has started it's Bitcoin mining operation in Texas.

https://www.newsbtc.com/2020/02/19/us-a-major-bitcoin-miner-again-how-layer1s-launch-is-bullish-for-btc/

Also we are 80 days from the halving.  Seems like only yesterday we were 81 days away from the halving.

2 21 2020.png

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