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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

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

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Instead of just more of the same there is actually something new happening today.

On the weekly chart Bitcoin is about to break out.

A close above $11,500 will do it or $11,450 next week.

Streak above $10k - 83 closes, 38 straight days without falling below

Streak above $11k 9 closes, 8 straight days without falling below.

 

10 18 2020 long view.png

10 15 2020 close.png

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On 10/18/2020 at 2:01 AM, 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 !!  :) 

I think Brad G kinda hinted at this in one of his videos after the Feds printed trillions. I'll see if I can find that video

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On 10/17/2020 at 3:48 PM, LetHerRip said:

I suggest you do infact take out that loan so we can add you to the list.

Man, I used to think you were alright and everybody was just being a bit of a *****, but I gotta agree with Jascoder. You've been a real sourpuss for a long time. I think you need a puff or two.

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Bitcoin is breaking out on the Weekly Chart.  Also, I forgot to mention yesterday that Hash Rate again had hit a new ATH, (it has fallen back a little since).  

Buckle up.

Streak above $10k - 84 closes, 39 straight days without falling below

Streak above $11k 10 closes, 9 straight days without falling below.

10 19 2020.png

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Bitcoin's price has been recovering to where it was in early September once it breaks $12k resistance at $12,400, then $13,900 (the 2019 high).

BTW right now

Dollar down

Gold Down 

LTC Down

ETH Down

XRP Down

Bitcoin up.

 

Streak above $10k - 85 closes, 40 straight days without falling below

Streak above $11k 11 closes, 10 straight days without falling below.

10 20 2020.png

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20 hours ago, Eric123 said:

Bitcoin's price has been recovering to where it was in early September once it breaks $12k resistance at $12,400, then $13,900 (the 2019 high).

BTW right now

Dollar down

Gold Down 

LTC Down

ETH Down

XRP Down

Bitcoin up.

 

Streak above $10k - 85 closes, 40 straight days without falling below

Streak above $11k 11 closes, 10 straight days without falling below.

10 20 2020.png

I love you. Haha

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BTC is flying!  The other alts are not falling.  I suppose the crunch comes when BTC corrects?

I think XRP has at last bottomed and unless something very bad happens to BTC, XRP will never go back down to 11 cents.  My feeling is that XRP has consolidated and we will see XRP price rising consistently with the other cryptos again.  XRP are almost where BTC and other crypto like ETH were last year.  XRP were slower to consolidate because XRP went up 33,000%, and we have a lot of catching up to do, so maybe XRP will become a star performer in coming months.

Edited by Julian_Williams
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