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Epic Pennant on BTC Chart


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2 hours ago, Neurotoxin said:

Just gotta sit back and see how all of this unfolds. Thanks for the info 👍🏽

Those charts are useless but some love to show them to build wrong prospective.

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2 hours ago, B088IN said:

I’m going for back to $40k by end of the week or higher, just flipped a coin and it told me so 😉👌

Good that you did not use stomach gasses as additional method!

Other way you can say that BTC can not break 31k and for third time makes HL.

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Mining coming out of China is a very positive thing for Bitcoin imo.

At the end of the day, the only way for Bitcoin to survive is to move away from PoW. While I’ve only discussed this in private conversations, my hypothesis has been that mining first moves into western countries, centralised by some large entities and finally moved to a different consensus.

The alternative would be for bitcoin to slowly become irrelevant and be deprecated.

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Bitcoin has been staying in the $30k-$40k for about a month now, when the price gets to the bottom of that range the crypto community starts to panic (exacerbated by the ALT sell off as well no doubt).  I'm actually feeling a little uneasy myself but for the opposite reason.  Truthfully right now I'm worried that don't I have enough Bitcoin.  The news just looks so good to me.  

Bitcoin mining moving out of China. Positive

Bitcoin mining moving to renewable energy.  Positive

Bitcoin being adopted by countries in Central/South America. Positive

Bitcoin Whales accumulating.  Positive.

I want more.   

6 21 21.png

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8 hours ago, Neurotoxin said:

 We need a new, positive narrative change, a slew of good news and a few tinfoil hatted preachers! 

You are going to need buyers before the narrative changes.  The only thing that kept BTC from going below 32K was the selling dried up at 32K (for the moment).  I saw the 32K price defended vigorously over Memorial Day weekend, but not last night.  Sorry, but that's no longer a given.  I sold 25% of the small position I had at 36K.  I was going to hold tight until I saw support break at 32K.  I'm still holding, but I'm breaking all my rules.  I guess I can do that when its only a small position.  We are fortunate that the DJIA came out positive or I'm pretty sure we'd be much lower than 32K.  I started to see BTC track the DJI on Friday.  I hadnt watched that before but the movement was similar to what alt coins do with BTC.

 

 

 

 

 

 

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3 hours ago, BarnBuilder said:

You are going to need buyers before the narrative changes.  The only thing that kept BTC from going below 32K was the selling dried up at 32K (for the moment).  I saw the 32K price defended vigorously over Memorial Day weekend, but not last night.  Sorry, but that's no longer a given.  I sold 25% of the small position I had at 36K.  I was going to hold tight until I saw support break at 32K.  I'm still holding, but I'm breaking all my rules.  I guess I can do that when its only a small position.  We are fortunate that the DJIA came out positive or I'm pretty sure we'd be much lower than 32K.  I started to see BTC track the DJI on Friday.  I hadnt watched that before but the movement was similar to what alt coins do with BTC.

 

 

 

 

 

 

I was more surprised too that you were seeking 40-42k and seems did not execute, I would agree with @Neurotoxin that 39k was a good price to exit and wait for 43k break out.

The run was simple pump and dump based on Taproot activation and MicroStrategy buys.

Now I see that RSI on hourly resets very fast with very low upward move. And goes down quickly.

On 23rd June will be first GBTC unllock, shall see what it gives us.

Edited by xrp-nuke
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