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Epic Pennant on BTC Chart


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4 hours ago, NMNR said:

We've already been in a bear market for a month and half. 

Some people need 6 months worth of data to confirm but by then it is way too late. 

Bear markets are where utility based coins out perform compared to outright speculative holdings.

Is there even a single utility coin that is actually in use? or just some with such narratives?

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14 minutes ago, MQB said:

Is there even a single utility coin that is actually in use? or just some with such narratives?

XRP, XLM, ALGO, HBAR, ETH, etc (via JPM Coin/ConsenSys) etc but of course none of them have valuations anywhere close to actual utility.

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Down Trend Line is not letting Bitcoin out.  I bought more Bitcoin and Litecoin last night.  

Yesterday there was:

a Congressional Hearing on Bitcoin's engergy use. (Which I mainly watched, it wasn't bad)

Crypto.com Hack

A proposed ban on Bictoin from the Russian Central bank

Eh.

Hashrate hit an ATH yesterday.  

I keep buying. 

 

 

7 hours ago, NMNR said:

@Eric123doesn't this BTC price invalidate your targets?

I don't have downside prices that invalidates the target for this bull cycle.  I think if we don't get the big run in the first 4 months or so of this year the whole model will need to be rethought.  Lengthening cycles?  Maybe. 

1 21 2022.png

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47 minutes ago, Eric123 said:

I don't have downside prices that invalidates the target for this bull cycle.

What if Bitcoin sets a new low below the mid July 2021 low (sub 30k)? In my opinion this would be the indicator of the end of the bull market. 

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1 hour ago, Eric123 said:

Down Trend Line is not letting Bitcoin out.  I bought more Bitcoin and Litecoin last night.  

Yesterday there was:

a Congressional Hearing on Bitcoin's engergy use. (Which I mainly watched, it wasn't bad)

Crypto.com Hack

A proposed ban on Bictoin from the Russian Central bank

Eh.

Hashrate hit an ATH yesterday.  

I keep buying. 

 

 

I don't have downside prices that invalidates the target for this bull cycle.  I think if we don't get the big run in the first 4 months or so of this year the whole model will need to be rethought.  Lengthening cycles?  Maybe. 

1 21 2022.png

the whole 'model' lol, how many times must it fail before you 'rethink' - you're wrong as much as you are right. 

Calling for 400k btc (facepalm)

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3 hours ago, Coingecko said:

What if Bitcoin sets a new low below the mid July 2021 low (sub 30k)? In my opinion this would be the indicator of the end of the bull market. 

Yes I would think if that were the price in July (I assume you mean 2022) that it would mean either:

The peak was already reached for this cycle

or

Bitcoin's price has entered a new phase and the cycles no longer apply. (though I have a hard time believing that the halvings will not continue to have a significant impact on price.)

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4 hours ago, Coingecko said:

What if Bitcoin sets a new low below the mid July 2021 low (sub 30k)? In my opinion this would be the indicator of the end of the bull market. 

More thab 50% is not the indicator of end bull market, is indicator that you missed at least 40% of bear market.

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10 minutes ago, xrp-nuke said:

This cycle! What a nice abstract things? Any dates of mystical cycle?

(Mystical) Cycle - It is no secret that bitcoin's price moves in cycles.  I don't have a specific date for when bitcoin will reach it's cycle high, but the bull run should be near to over when the price is around $400k.    

Owning Bitcoin at this stage in it's adoption is not for everyone. A lot of people cannot take the volatility.  The price will eventually become more stable at higher valuations.  People will probably feel more comfortable buying bitcoin when it is in the $Millions and moves less than 1% in a month.      

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I screwed up.  My argument that BTC followed stocks for at least three months was based on my stupid mistake charting.  I’d forgotten to change the interval,  so the chart, instead of showing three months, was a fifteen minute chart showing only the tight coupling of the current drop.

Sorry for the misinformation.   I’ve edited the original post to show my error.  I am unable to strikethrough the text because I’m on mobile. 

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15 minutes ago, Eric123 said:

(Mystical) Cycle - It is no secret that bitcoin's price moves in cycles.  I don't have a specific date for when bitcoin will reach it's cycle high, but the bull run should be near to over when the price is around $400k.    

Owning Bitcoin at this stage in it's adoption is not for everyone. A lot of people cannot take the volatility.  The price will eventually become more stable at higher valuations.  People will probably feel more comfortable buying bitcoin when it is in the $Millions and moves less than 1% in a month.      

Really? 🤣🤣🤣 You do not know when but you do know ATH price, sounds very "confident"! Why not 1M for this cycle? Or 69k? Or 230k?

Lets be honest, there is no liquidity for all Bitcoins at 38k and noone knows the real liquidity capacity. Therefore people its best, sell before it late.

Its easy to feed with the story that lower self eastim "oh stupid you sold it", but realised profit is what matter at the end of the day, not the story: "One day cycle will end at 400k" 

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13 hours ago, BillyOckham said:

I screwed up.  My argument that BTC followed stocks for at least three months was based on my stupid mistake charting.  I’d forgotten to change the interval,  so the chart, instead of showing three months, was a fifteen minute chart showing only the tight coupling of the current drop.

Sorry for the misinformation.   I’ve edited the original post to show my error.  I am unable to strikethrough the text because I’m on mobile. 

Charting is nonsense any way. Happens to the best or us. 

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