Eric123 Posted January 30, 2022 Author Share Posted January 30, 2022 Bitcoin's price is still inching in on the Down Trend line. happygojappy, dtpace and WarChest 3 Link to comment Share on other sites More sharing options...
Eric123 Posted January 31, 2022 Author Share Posted January 31, 2022 Interesting to see what will happen in the next few days. Breakout or does the price keep following the down trend line - dtpace 1 Link to comment Share on other sites More sharing options...
Eric123 Posted February 1, 2022 Author Share Posted February 1, 2022 (edited) Birtcoin's price is above the Trend Line - will it hold????? Edited February 1, 2022 by Eric123 dtpace 1 Link to comment Share on other sites More sharing options...
Eric123 Posted February 1, 2022 Author Share Posted February 1, 2022 This is the 5th time by my count that Bitcoin's price has Broken the downtrend line which started November 8, 2021. Today could be the first close above the line in 85 days. The last down turn line April 13, 2021 to August 6, 2021 took 115 days to break. xrp_is_love_xrp_is_life, Milly238, DannyRipple and 4 others 6 1 Link to comment Share on other sites More sharing options...
Eric123 Posted February 2, 2022 Author Share Posted February 2, 2022 Bitcoin's price made it above the trend line for one "close" right now it is not providing support and the price has broken under the line which is around $38,000. Link to comment Share on other sites More sharing options...
Julian_Williams Posted February 2, 2022 Share Posted February 2, 2022 (edited) 1 hour ago, Eric123 said: Bitcoin's price made it above the trend line for one "close" right now it is not providing support and the price has broken under the line which is around $38,000. Sadly this is confirming the many bearish predictions by Coinskid and others that we have been tracing out a bear flag with a target to descend to 28 -30k where hopefully it will find strong support and a big positive bounce. XRP to .51 and hopefully holding there and bouncing strongly. I think the good news is that we are breaking the narrative of a four year cycle ending with a euphoric blowout followed by another long crypto winter. This feels more like a long (overdue) correction for BTC to me, whilst the whole crypto market is continuing to fizz with media attention about innovation and adoption across wider and wider range of use cases. I personally do not expect BTC to remain the dominant crypto in these new markets for ever, but it is looking like BTC will remain a powerful force in crypto for a few coming years yet. Edited February 2, 2022 by Julian_Williams dtpace and Eric123 2 Link to comment Share on other sites More sharing options...
MQB Posted February 2, 2022 Share Posted February 2, 2022 Where is the confirmation? Just because some random youtube kid saying so? Eric123 1 Link to comment Share on other sites More sharing options...
Julian_Williams Posted February 2, 2022 Share Posted February 2, 2022 2 hours ago, MQB said: Where is the confirmation? Just because some random youtube kid saying so? "is confirming the many bearish predictions" is not the same as confirmation. Confirmation comes when it hits 30k if it hits 30k. It might well reverse and the predictions will be proved wrong Eric123 1 Link to comment Share on other sites More sharing options...
Plikk Posted February 2, 2022 Share Posted February 2, 2022 Running flat correction only intact if BTC remains above ~30k. I personally believe in a running flat and that 32k could indeed be revisited(probably higher tho) and then off to the races. After this cycle is over I do expect a big crypto winter along with all markets. Multi-year recession. Euphoric rallies this year could end in extreme bloodshed in the following years. We’ll have to see, all I know is that I and many others were wrong about 4y cycle theory, most turned extremely bearish and some people like me have revisited their thesis and came up with an extended cycle explanation. we’ll see. As long as 32k holds, I think we’ll all be fine for an extended cycle indeed. Julian_Williams, Eric123, MQB and 2 others 3 2 Link to comment Share on other sites More sharing options...
Eric123 Posted February 3, 2022 Author Share Posted February 3, 2022 (edited) The 4 year cycle makes sense since the halvings occur every 4 years. Obviously there are other factors involved than just the halvings which effect price: Adoption is happening at an inconstant rate: Countries/Institutions are embracing/attacking Bitcoin. Applications are being added to make crypto use more user friendly/secure. All of these escape charting. No one can chart for an SEC lawsuit or China banning Mining, or a Celebrity CEO getting a hardon for ESG, etc. Bitcoin's price is below the trend line and the market is skittish at the moment in the US, as the Executive Order which is supposedly going to give some guidance looms- but even so, there is so much good news regarding Bitcoin and Bitcoin has so many high level supporters, that I don't think Bitcoin's price will be following this trend line down for much longer. I still don't think we have seen the high for this cycle. Edited February 3, 2022 by Eric123 Plikk, Rippley, MQB and 1 other 4 Link to comment Share on other sites More sharing options...
xrp-nuke Posted February 3, 2022 Share Posted February 3, 2022 28 minutes ago, Eric123 said: Bitcoin's price will be following this trend line down for much longer. it will, do not make ilusion to people, market goes both ways. Link to comment Share on other sites More sharing options...
themeatcleaver3 Posted February 3, 2022 Share Posted February 3, 2022 Thoughts on this? Seems to be a downtrend still? Eric123 1 Link to comment Share on other sites More sharing options...
Plikk Posted February 3, 2022 Share Posted February 3, 2022 4 minutes ago, themeatcleaver3 said: Thoughts on this? Seems to be a downtrend still? Yes, we have no confirmed break-out yet. For most professional this is a no-trade zone. For longer term investors, you can DCA buy and wait for a break-out, because when confirmation does arise, you’ll usually be left behind. Never use all your funds at once, as the price could also continue down. Just be sure to have a clear and well thought-out strategy you are comfortable with, and ignore all the noise(hardest part). WarChest, Eric123, dtpace and 2 others 5 Link to comment Share on other sites More sharing options...
Eric123 Posted February 3, 2022 Author Share Posted February 3, 2022 Yesterday Bitcoin's price got pushed below the down trend line, dropping about $2k on pretty low volume. I think the price will take another run at the trend line soon. dtpace, Rippley, WarChest and 1 other 2 2 Link to comment Share on other sites More sharing options...
Nat99 Posted February 4, 2022 Share Posted February 4, 2022 (edited) @Eric123 you think it's time to start building a position in SOLO? Also, any price target for SOLO? Edited February 4, 2022 by Nat99 Link to comment Share on other sites More sharing options...
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