Jump to content

Epic Pennant on BTC Chart


Recommended Posts

  • Replies 7.2k
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

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

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

So yeah 5 weeks off but still not bad,  considering bitcoin was around $3.8k when I made the prediction on March 1st!!  And 90% of people were calling for a retest of the lows!! In a few days 3 o

Posted Images

4 hours ago, Eric123 said:

Yeah I agree.  there really isn't much to say.  My posts have basically only been more of the same.

I can sum it up as X EMA is about to cross Y EMA.
Hashrate is at an ATH/keeps increasing. 
BTC closed above x amount Y days in a row. 
And of course, the bollinger bands are tightening. 😂

It’s funny, at the start I understood zero percent of what you said and now I understand most of it pretty darn well. Gotta admire your consistency and your seemingly steel spirit. Only once did you get bearish, and it was a time where a lot of negative shit was happening and was being spoken of in the forums, so it was understandable. I always look forward to your posts, keep em comin’. 🤙🏽

Link to post
Share on other sites
7 hours ago, Eric123 said:

My third uninterrupted post in a row.  I guess this shows this tread has entered an all time low of interest.  Or maybe there is just not a lot to say.  I think that is a super bullish sign.  

When Bitcoin first started no one knew about it or had any interest in it, those that got in at that point made insane gains if they stuck with it.

When Bitcoin hit $1k the first time in 2013 it was all over the news and everyone was talking about it.

When Bitcoin's price crashed and it was $200-$400 everyone lost interest. People that bought here made insane gains 50-100x.

When Bitcoin hit $10k for the first time in 2017 it was all over the news and everyone was talking about it.

Bitcoin is now over $11k, Hash rate is at an all time high,  CNBS lists Bitcoin on it's currency ticker and Fox has it listed first on it's currency ticker a head of the USD/EUR, Public companies are buying Bitcoin with their cash reserves to hold on their balance sheets and yet there seems to be very little interest. 

 

Hey Eric

I still read your posts with interests daily, and certainly for BTC things look good. However, as I'm only in XRP I'm finding it disappointing to see that it has not yet regained the losses that BTC has since the ATH. I know you've shared your thoughts on XRP and ALTs following BTC in time, do you still feel this way?

Thanks again for the consistency in your work.

Link to post
Share on other sites
9 hours ago, Eric123 said:

@Chookstar I haven't changed my opinion on XRP.  Looking at the chart for Bitcoin, especially on the monthly, it looks like Bitcoin is getting ready (next few months) to hit a new ATH and then continue into a bull market.  I am basically looking for a replay of 2017 when that happens (maybe bigger due to institutions entering the space, the easier avenues to purchase bitcoin and more people becoming comfortable with crypto).  I think all the Big names in the space will go along for the ride, especially XRP, I am confident that XRP will be multiples of it's previous ATH.  I am betting on that.

Bitcoin has been consolidating after the recent move above $11k.  Again it looks like it is coiling up and getting ready for another move,  perhaps it stays in this range for a week or so.

Thanks Eric! Exactly what I needed to hear!

Link to post
Share on other sites

Since every thing for Bitcoin is basically steady on the daily chart I'm gonna zoom out to the weekly.  Looks like a close above $11,500 will put the price above the Down Trend Line.

Streak continues.

Streak above $10k - 82 closes, 37 straight days without falling below

Streak above $11k 8 closes, 7 straight days without falling below.

10 17 2020.png

Link to post
Share on other sites

There appears a big difference with the BTC market now - which began mainly around April 2020 - specifically the persistent and growing levels of accumulation by "institutional" investors. This would be impacting TA in a similar fashion as a rise in sentiment does in markets.

This rise in buy-and-hold participants, would also explain the resiliency of the 10k support, now 11k ?, we are witnessing, no ?

 The BTC held by exchanges are draining down, in general around 10% lower than earlier this year. The futures contracts by Bakkt closing continue to rise. CME and other are increasing their accumulation, and over 70% of new BTC mined is being slurped up by Grayscale - who also is accumulating additional BTC by other means. 

From all I've been reading, this trend of the increase of institutional investing is showing no signs of slowing down. Given the rampant growth of the global money supply in effect, I feel more and more confident in the future health of all the top digital assets. 

No doubt, we'll look back to this moment a few years from now, and wonder how the hell we didn't see it coming. 

Maybe I should take out a low-rate loan on my house, and REALLY go all in !!  :) 

Link to post
Share on other sites
58 minutes ago, JASCoder said:

There appears a big difference with the BTC market now - which began mainly around April 2020 - specifically the persistent and growing levels of accumulation by "institutional" investors. This would be impacting TA in a similar fashion as a rise in sentiment does in markets.

This rise in buy-and-hold participants, would also explain the resiliency of the 10k support, now 11k ?, we are witnessing, no ?

 The BTC held by exchanges are draining down, in general around 10% lower than earlier this year. The futures contracts by Bakkt closing continue to rise. CME and other are increasing their accumulation, and over 70% of new BTC mined is being slurped up by Grayscale - who also is accumulating additional BTC by other means. 

From all I've been reading, this trend of the increase of institutional investing is showing no signs of slowing down. Given the rampant growth of the global money supply in effect, I feel more and more confident in the future health of all the top digital assets. 

No doubt, we'll look back to this moment a few years from now, and wonder how the hell we didn't see it coming. 

Maybe I should take out a low-rate loan on my house, and REALLY go all in !!  :) 

At least 1 or 2 lost their houses that way in 2018 with XRP :D

Edited by LetHerRip
Change of date, wasn't 2017 was 2018
Link to post
Share on other sites
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.