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Epic Pennant on BTC Chart


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I understand everyone gets emotional when the price dips.  Short term gyrations in price are to be expected.

My philosophy towards bitcoin is as follows: 

Don't use leverage, Don't use stop losses.  When you get a dip buy more. 

This is a long term weekly bitcoin chart.  Looking at this chart, is there any other strategy than buy the dip?

 

weekly.png

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Brutal day, can’t say I wasn’t expecting it TBH.😬 Got to get to the extreme fear before we can go up again, don’t think this cycle has more than a couple of months left in it…… some ALTS bucking the trend and I’m hoping XRP will have its turn in the near future 

@Eric123best ignore some of the snide comments, guessing the market hasn’t moved the way they wanted and are now frustrated 🤪

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Plan B is a huge Twitter influencer in terms of reading the charts etc... 

He seems to have got it absolutely spot on for Aug - Oct (which is basically superhuman), then he might have missed the mark this month. still, getting it that accurate for those months is phenomenal 

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1 hour ago, Eric123 said:

I understand everyone gets emotional when the price dips.  Short term gyrations in price are to be expected.

My philosophy towards bitcoin is as follows: 

Don't use leverage, Don't use stop losses.  When you get a dip buy more. 

This is a long term weekly bitcoin chart.  Looking at this chart, is there any other strategy than buy the dip?

 

weekly.png

I'm only teasing you :) I do appreciate your contribution really. But 400k, if we get to that level this cycle I'd be surprised (understatement)

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1 hour ago, Xrpdude said:

Plan B is a huge Twitter influencer in terms of reading the charts etc... 

He seems to have got it absolutely spot on for Aug - Oct (which is basically superhuman), then he might have missed the mark this month. still, getting it that accurate for those months is phenomenal 

Honestly, all of these influences I think are out of their depth, whether it's plan n or Ben cowen. They're just people thinking their experts on what they think is a new asset class with a mass social media following. 

You can be extremely knowledgeable in terms of statistics and forecasting but where majority of these individuals fall short is that they have very little practical experiments in the overall market place. 

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4 hours ago, Xrpdude said:

Plan B is a huge Twitter influencer in terms of reading the charts etc... 

He seems to have got it absolutely spot on for Aug - Oct (which is basically superhuman), then he might have missed the mark this month. still, getting it that accurate for those months is phenomenal 

I agree with @NMNR my super bear frend.

Plan B is overhyped, his S2F model is to abstract and too average, he tried to do his other model which is now failing, starting October.

Most people still argue if hr speaks about month close or month ATH.

Time to admit.

No easy money here unless you hype on airdrops with charm.

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1 hour ago, xrp-nuke said:

I agree with @NMNR my super bear frend.

Plan B is overhyped, his S2F model is to abstract and too average, he tried to do his other model which is now failing, starting October.

Most people still argue if hr speaks about month close or month ATH.

Time to admit.

No easy money here unless you hype on airdrops with charm.

I'm not a bear. Stop trying to indirectly add me to the club lol.

The S2F model is interesting in concept but it's so detached from real life risk factors that its nothing but a theoretical dream. 

@Eric123 what's your rationale for $400k and what length of time are you expecting for this cycle because I honestly cannot fathom where that level of money is going to come from. From where I see it, each high looks to be diminishing. There's just simply not enough time within the next 6 months. Even for me, btc hitting $100k would be the high end.

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2 hours ago, NMNR said:

I'm not a bear. Stop trying to indirectly add me to the club lol.

I am just teasing you, you should have got it by now. You have your own point of view thst I respect. 

Piece.

P.S. Refer this message fo future bear messages.

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17 hours ago, NMNR said:

what's your rationale for $400k and what length of time are you expecting for this cycle because I honestly cannot fathom where that level of money is going to come from. From where I see it, each high looks to be diminishing. There's just simply not enough time within the next 6 months.

It never took BTC 6 months to go parabolic. Look at it on the logarithmic scale. 

1-10-100usd all reached in no time then correction. 

2013, 1300usd. 
2017, next level/logarithm up. 19k. So the peak of that cycle was relatively higher than previous cycle. 
 

eth does exactly what BTC did 4 years ago. 
 

400k seems like a stretch, not before 2027 or so. 200-250k at the absolute peak for a day or two? Could be done. 

Edited by Benaoao20
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Slight recovery today.

20 hours ago, NMNR said:

Eric123 what's your rationale for $400k and what length of time are you expecting for this cycle because I honestly cannot fathom where that level of money is going to come from. From where I see it, each high looks to be diminishing. There's just simply not enough time within the next 6 months. Even for me, btc hitting $100k would be the high end.

In the 2017 run Bitcoin went up 5x from October to December.  When the parabolic move happens it always surprises with how extreme it is.  Eventually Bitcoin is something that everyone, Pensions Funds, Public Companies, Governments, also  the money entering Bitcoin is not a 1:1.  

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