Quite convincingly we are confirming support near $40k.
This was a much needed confirmation, as we were flying high for 10 days in a row. The market needs to know that $35k is not on the table. This new support line seems pretty strong and a lot of Bitcoin has changed hands at this level considering the current supply shocks.
Of course we still need to bounce higher for actual confirmation, but the time we've spent here already and the increasing volume looks to be like quite a good sign.
At this point I expect to be testing and getting rejected at $45k by the end of the week. We still have until August 8th until the new moon. Should Bitcoin keep trading with the stars we'll be going up one more time in the next week. After that I suppose we'd expect to test resistance at $40k again before getting enough energy to crush the double resistance at $45k.
The $5k Crux
Anytime we are trading on these $5k increments ($35k, $40k, $45k) is the best time to make a move. The market seems to love this unit bias. Bulls should be buying and bears should be selling. We are either going to $45k or $35k and the bots seem to know it. As a perma-bull everyone knows my stance. Buy buy buy.
The next full moon to new moon upward cycle occurs August 22 to September 6th. I hope to be testing all time highs by the end of that period. There's an okay chance that instead of trading down and confirming support during the down cycle we just trade flat near $45k during that time. Depends on if this mega-bubble shift is the real deal... which it seems like so far. We'll have to cover some ground.
price price price blah blah blah
It's somewhat ironic that if blockchain does what we want it to do the price of things isn't really going to matter. In fact it's only a matter of time before a cryptocurrency becomes a better unit of account than USD. Have you seen USD lately? It's not going to get more stable over time. At that point fiat becomes totally irrelevant, everything will be priced in crypto.
Obviously the price is a nice thing to focus on in the short term. Number go up exponentially is a pretty wild feeling. We've been slaves to economic scarcity for so long it's hard to think in any other way. It is in everyone's best interest to prepare for abundance and the ability to have extra leftover. Sounds easier than it really is. Greed has a fun time of getting in the way.
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Everything priced in BTC would be a sight to see. It might be a shock to many who have grown accustomed to $.
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Locked and loaded. Send it!!!🚀🚀🚀
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Indeed, the pullback was needed and healthy. Reset rocket for the moon!
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Wow I'm so happy when I saw Bitcoin retesting that support line again which really shows that the bullish trend is gaining it's ground and enough weight to me against the long bearish trend we suffered.
If Bitcoin will actual form that line that means Bitcoin will not go below 40k for the mean time. I believe August will be bullish for us all.
I just hope the increase will actually add more values to others coins and also change a lot in the market cap for the cryptocurrencies. this will really give the holders good news at the price rises back again.
I'll take the opportunity to buy some.
I'm curious about this moon thing though... is it just a case of spurious correlation or what?
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Is buying Bitcoin at this point the (potentially) smartest move to make?
I would say Bitcoin has the best risk/reward ratio.
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Cool... that works for me. Thank you!
why does the last picture look so familiar? Politicians must all look alike it seems
I especially liked your last words:
On my more positive/ optimistic days I tend to think along those lines.
The world has seen stranger things happening and that is a huge understatement.
Cheers!
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If the 5K trend is maintained and acquires new resistance each week, then we will be looking at the 150K train as you said before.
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thanks for this analysis... I thought it would go back to 20,000 dollars, that is to the old high, but it seems that I was wrong .. below 30,000 / 28,000 it seems like it does not want to go
$20k would have made sense any other year.
This is 2021, land of the mega-bubble
So you think it won't drop to 20,000 again? Not even next year?
Doubling curve is already higher than $20k.
Probably not.
I'm predicting a mega-bubble Q4 2021,
with a crash to $50k Q4 2022
I think I should follow your profile better. Thanks for the reply.
I love colors but September
needs to turn green this year.
Since volatility is part of the deal
we still have to use USD to appease
the controllers thinking they are winning.
!BEER
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I love your fall. Odors, green is also my favorite.
#shortsegments
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4 month and we see da moon!
I think it will take years before things will be priced in crypto. I just don't see people changing that quickly. The dollar is looking a bit dangerous since they failed to to increase the debt ceiling.
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Your prose is entertaining and it seems that your suggestion bulls should buy and bears should sell is equally entertaining because whether your a bull or a bear your action is tight, fir the now..
#shortsegmrnts
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Read how this all have started with Toruk
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