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Epic Pennant on BTC Chart


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On 11/26/2021 at 6:55 PM, NMNR said:

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.

I don’t see 400k happening either. Hell, I think 100k is a stretch. IMO, BTC either topped out already or has a little more upside slightly higher than the ATH it set not long ago. Just look at the chart to when BTC started going up after the bearmarket. 
 

BTC was ~3k at the start of the bull cycle… so it’s already done nearly 2000% increase. That’s a MOONSHOT!   To say it’s gonna go up by multiples after that… well it just doesn’t seem reasonable to me. Alts have always been the ones to outperform BTC because it’s all about percentage gains. Most of the profit to be had in BTC has almost completely been capitalized on IMO. Now we’re just missing the last crazy rotation into the alts when BTC hits the ceiling and the smart money seeks the percentage gains by getting into coins that either haven’t had their moonshot yet, or have had a run but they still have a ways go to. Retail then FOMOs into the rallies and feeds those tops, while the smart money is dumping and rotating into the next alt. The last alt they rotate into is USD and then they exit the market. They re-enter once everybody has abandoned the idea that there’s any profit to be made, at the very bottom.   
 

This is not financial advice. DYOR, yada yada. 

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7 hours ago, NMNR said:

Are you looking for anything that would invalidate your targets? 

I know you’re not asking me but if 53k was broken (or ~52.6k according to cmc), then that’d be a red flag. That’s the high we set up on Sept. Eric doesn’t look at Elliot waves or fibs, though so Idk if that’d be a red flag in his interpretation. My input’s based on the little I’ve picked up from watching BCB charting, the dude’s a great teacher even if he isn’t trying to teach so you learn a lot from just watching him. He’s never talked much about EMA’s, RSI, BB’s or any of that so I have no idea about those. Don’t really watch anymore crypto related stuff outside of that, and I started watching him LATE after I already had my plan (some months ago and I’ve been in the market since 2017), so it’s more for entertainment purposes than anything but I gotta say, the dude’s a wiz. If u look back at his old videos and said “what if I found him sooner and believed him?” Then you’d quickly come to the conclusion that you would’ve made a lot of money. I bought during the bear market, though so I really can’t lose and that’s why I don’t seek or actively follow anything, but I would imagine those that bought at higher prices might need a little bit of reassurance from others to calm their nerves in this wild rollercoaster that is the crypto market. 

Just my 2c, hope everybody’s doing well 🙏🏼

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Bitcoin (crypto and the equity markets) had a reversal immediately after my posts yesterday based on Powell's (Chairman of the US Federal Reserve) statements that they will discuss speeding up the tapering of bond purchases at the December meeting. 

For those unfamiliar with "Fed Speak"  Stating that something will be talked about at a later date is a lot of how they communicate. 

Bitcoin has made a decent recovery today and it's MACD should cross over positive tomorrow.  Litecoin is about to break through it's down trend line.

12 1 2021.png

Litecoin.png

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These are the lines Bitcoin needs to break to move out of the down trend. 

Just a reminder guys, stay on top of the airdrops if you hold XRP.  The Sologenic airdrop snap shot is December 24.  I getting excited about this one.  I missed the Vagabond airdrop, but whatever. 

12 2 2021.png

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