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Epic Pennant on BTC Chart


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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

Posted Images

And the Bleeding continues.  We are looking for where Bitcoin's price will finally land and either stabilize or start moving up.  Probably going to be moving up.  As I am writing this we just broke $9k.  There go the stop losses. I am definitely a buyer today.  If you get in below $9k i think you're doing well.  Litecoin and XRP are on sale as well and IMO better buys than Bitcoin right now. 

In my opinion, in so far at the price movement right now is related to the global equity markets, Virus or no, the Governments, well really the central banks - are not going to let the market continue to fall.  The central banks will use drastic monetary policies to raise the markets  which is positive for Bitcoin/crypto, especially China and here in the US.  As you may or may not know in the US we have the Presidential election this November and there is no way they are going to let the market crash too bad prior to the election.

  

2 26 2020 btc.png

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2 hours ago, Eric123 said:

And the Bleeding continues.  We are looking for where Bitcoin's price will finally land and either stabilize or start moving up.  Probably going to be moving up.  As I am writing this we just broke $9k.  There go the stop losses. I am definitely a buyer today.  If you get in below $9k i think you're doing well.  Litecoin and XRP are on sale as well and IMO better buys than Bitcoin right now. 

In my opinion, in so far at the price movement right now is related to the global equity markets, Virus or no, the Governments, well really the central banks - are not going to let the market continue to fall.  The central banks will use drastic monetary policies to raise the markets  which is positive for Bitcoin/crypto, especially China and here in the US.  As you may or may not know in the US we have the Presidential election this November and there is no way they are going to let the market crash too bad prior to the election.

  

2 26 2020 btc.png

Everyone that I talk to has been celebrating how well their portfolios have been doing during the Trump presidency. That wouldn't bode well for the elction if the market tanks prior to that.  I think you may be onto something.

---------------

I think the Trump campaign should inject $200 Million to $300 Million into XRP to make sure the economy is stablized. That would be good mOnEtArY PoLiCy in my opinion. That would really help bolster stable growth for the well being of the earth.

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Cycles22720.thumb.png.abfbd7e87a394f694747b6668e9ed0ea.png

Finding it harder to identify the cycle impulses due to the increased chop.

1. It now looks like we completed the cycle and should be on an upward impulse.

2. Price is approaching the FLD (fuchsia), if it crosses significantly then the uptrend is supported.

3. The long-term uptrend (dotted white) held, just !

4. All envelopes and MA's are still pointing down so exercise caution.

5. Price bounced around Octave mean (blue horizontal).

6. Price moved outside the blue envelope suggesting reversal to upside.

6. If price breaks the FLD my preferred outcome is to reach the first peak of the new cycle around 10,500.

 

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Well the crypto carnage continues but Bitcoin is still above the upward trendline that began in December 2019, so while the Coronavirus is not helping.  This downturn could have certainly happen without the damage that is happening in the global equities markets.  

As far as the market goes to me it is all a rigged game.  Potentially the virus could stop supply chains - meaning no more deliveries of cars, clothing, fuel, food, medicine, etc.  so obviously there should be a tremendous sell off. 

If you price in the end of the world the prices for everything are $0.  Does that mean the prices will go to zero?  Of course not.  The prices might even go up.  Why? The prices go where the central banks want the prices to go.  As has been going on for years, there is no longer economic policy, there is only monetary policy and the banks will step in and do what they have to, to keep the market up. In my opinion of course, but I'm not the only one that has this opinion. 

https://www.cnbc.com/2020/02/28/ex-fed-governor-warsh-sees-coordinated-global-central-bank-action-soon-in-response-to-coronavirus.html

I first posted about the coronavirus on 2/20/2020 at that point I was hoping I might be overreacting, but since that time every indication is that I was not.  As far as people posting regarding the effect of the virus on issues not directly related to the price, I'm all for it.  In my opinion it all effects price and more importantly our lives  we have an intelligent community here and we should take advantage of our shared knowledge and experience.  I welcome those posts  especially from our crypto family in the far east who have first hand knowledge, as I'm sure we are not being told the whole truth. 

That being said.  I am bought more XRP Wednesday at .234, I am buying more Bitcoin today at $8,600 ish

Stay safe.  

 

2 28 2020.png

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A week or so ago it did seem as if the coronavirus was really being hyped up, and that the story would go away soon.  It did not go away. 

The issue of the global supply chain getting disrupted is real, it's already happening, and that will have real world  effects to markets ("correlated" or not like crypto).

The coronavirus is very relevant now indeed.

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Well not the worst week ever and that's with all the carnage in the equity markets and the world wide pandemic fears.  Do we rebound hard next week? 

Remember Bitcoin has no supply chain problems and central banks can't issue more Bitcoin to prop up the markets. (knew this would happen)

https://www.cnbc.com/2020/02/28/trump-says-he-hopes-the-fed-gets-involved-soon-to-combat-market-sell-off-from-coronavirus.html

Cash can get infected and even gold can get infected.  Viruses can't live on bitcoin (although Peter Schiff might think they can)

Hash rate near all time high.  

https://www.blockchain.com/en/charts/hash-rate

Halving less than 73 days away.

https://www.bitcoinblockhalf.com/

Bought more yesterday.  Chilling out this weekend . Will a concerted effort to raise the markets be announced by the Fed, the BOJ, the ECB and the PBOC.  Yeah probably. All bullish for Bitcoin.

2 29 2020.png

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