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Epic Pennant on BTC Chart


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19 minutes ago, VanHasen said:

You think if btc breaks to the upside (62k+) in the next hours/days (?) then this bullrun would already peak in june?

Sry for asking dumb questions, but i have no clue

That is the same question I am asking.  If Bitcoin peaks in the next few weeks and then crashes back to 40k, what will that do to Altcoins?   Will Altcoins go up for a short sharp alt season and then cash too, then wait for another bull cycle in the Autumn.  Is that the likely run of things if BTC takes off to say 65 - 85k in the next few weeks.

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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

36 minutes ago, VanHasen said:

You think if btc breaks to the upside (62k+) in the next hours/days (?) then this bullrun would already peak in june?

Sry for asking dumb questions, but i have no clue

Yes, that is what I'm saying: if BTC closes at 75-80K in the next 2-3 weeks, then we are looking at an early cycle peak in May or June.

If it falls out of the ascending triangle prior to then, then I have no idea.  More data points (more time) would be needed to determine the new pattern in that case.

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19 minutes ago, Julian_Williams said:

That is the same question I am asking.  If Bitcoin peaks in the next few weeks and then crashes back to 40k, what will that do to Altcoins?   Will Altcoins go up for a short sharp alt season and then cash too, then wait for another bull cycle in the Autumn.  Is that the likely run of things if BTC takes off to say 65 - 85k in the next few weeks.

I don't know. At the end of the day we are all just guessing, but based on the way alts are behaving at the moment I'd say that any significant pullback in BTC could spark a bull run in alts.

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22 minutes ago, ManBearPig said:

Reading about President Biden looking to push new spending up to 3 or 4 trillion for infrastructure, education, and healthcare initiatives.   Gonna give Bitcoin an adrenaline shot before long.

Yes, this is down the pipeline coming - FOF (Fear of Fiat) will be a bigger motivation than FOMO.

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Additionally, Allasio pointed out in his vid last night, how bond prices have been declining, interest rates climbing, and gold continuing its slow "retrenchment." 

IMHO the pushing up of the rates, could be a deliberate attempt to front-run the inevitable appearance of inflation soon, which we're already seeing early signs of at the macro level (eg. housing sales dropping due to high prices and short supply). 

Injecting more trillions of funny money of "infrastructure-spending" into the already swelling supply from all the "stimulus" helicopter cash (and more to come?), and other efforts to jump start the middle class with a return to better productivity from Covid's wane, can only end with ... INFLATION. 

Which would be bullish for precious metals and crypto, I'd think.

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8 hours ago, Seoulite said:

BTC looking very bearish. IMO around 51k is a key level, we break down through that and the next stop is 40k.

Watch BTC closely. If you are rooting for higher prices you want to see an aggressive bounce somewhere between here and 51. If we don't see that hold onto your hats because we are going low.

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Bitcoin broke below the downtrend line that provided brief support and it is now providing resistance.  Basically bitcoin is seeing sideways movement as the bollinger bands tighten and we'll see how the trend line holds up today.   If the price stays where it is now it will move through sideways at the end of the day.

3 23 2021.png

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Here is Alesso saying the same thing about record amount of time since BTC touched back to the 21 weekly average.

I am thinking this event may actually be reflecting the gear shift into a new investment profile paradigm, from "retail speculative investment" (FOMO type) into "institutional investment" (longer term, bigger money).  I can imagine this movement of new "bigger" money into the market could cause this sort of unusual event described during such a transition by Alesso .

I am also imagining that we might have another paradigm shift on the horizon and about to hit in the next six months, from FOMO (mostly young people with limited financial resources) being the driver to FOF (Fear of Fiat) becoming the driver.  I think the profile of FOF investors could be another gear changer because it would involve the more mature middle classes entering the markets with their savings accounts.

For these two reasons I am imagining that we will see strange behaviour that Alesso is bringing to our attention - or it could be that BTC needs to travel sideways or go down until it rejoins the 21 weekly average.   Maybe the 21 weekly average is unimportant?

 

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