This might sound a little odd given all we had was one real pullback on bitcoin's run from 20k to 42K, but I'm actually very anxious to see if price can push above 42K before seeing another pullback.
Higher Highs Please...
Don't get me wrong, its not the end of the world if price hover below 42K for a while. I mean price is still up rather aggressive.
However, my concern is the last time we saw a meteoric rise followed by a harsh high volume pullback that then produced a lower high, it was the top of 2018.
As seen here..
I'm not saying this time will be the same, but I would definitely prefer for it to not look the same as that doesn't instill confidence.
Yes, I know all the reasons "why it won't be the same" but I also know from 20 years of investing that anything can happen.
Thus, I would like price to push above 42K before seeing any kind of real pullback since its rallied off the 30K area.
Anxiously waiting.....
Posted Using LeoFinance Beta
The run up has been awesome to watch and the correction so far seems mild by typical Bitcoin standards. I don't think it will take much of a push to crack $42K from here. I would not be surprised if it runs right up to $50K in pretty quick time once momentum returns.
This is like early 2017 and nothing like 2018.
Posted Using LeoFinance Beta
I have a feeling we will be repeating 2017-2018 here again. Bump but ready for a huge sell off again worse than the first as it starts to stagnate and negative press ramps up.
Posted Using LeoFinance Beta
That is what I am worried about. Here's hoping for the best!
Posted Using LeoFinance Beta
I think we are rather at a 2017 stage than already at the 2018 peak.
Im really not a TA guy even though I like to watch TA, but I rather think from a fundamental standpoint we have a much more bullish outlook than in 2017/18.
Its really strange nobody is talking about SBD $3.00 because that was a precursor to the last Steem rally.
Posted Using LeoFinance Beta
With a rise that rapid, expect a serious pull back. It’s fine though. It gives you the chance to buy back in at a cheaper price for the next major run in a couple of years.
Posted Using LeoFinance Beta
Yeah, with a long-term investment view the moves within a year aren't too important.
Posted Using LeoFinance Beta
42k is huge!
Posted Using LeoFinance Beta
The 2017 run was a mega-bubble and this one is not.
2019 is a much better gauge for what could happen.
I'm guessing volume and volatility drop in the $30k-$35k area and we get a retrace to $20k-$25k.
Should happen by March.
April always a good time to buy.
If we make higher highs all bets are off...
It's possible this mega-bubble is even stronger than 2017 and we make higher highs at the end of every quarter.
Yeah, I could see that scenario. In the end I'm just not happy seeing this lower high. We very well could go higher in the near-term but the higher high streak for the past month or so has ended for the moment.
Posted Using LeoFinance Beta
Yep, I'm still holding out for an explosive blow-off top when Biden takes over but not holding my breath.
Still, February and March are usually... not great.
Best case scenario I get to take some obvious gains at the end of the month I think.
The main difference between now and 2018, it is the increases consistently happened for over a year. Early to middle of 2016, up through December 2017 was a consistent increase over time. Today, it just shot up over a few weeks.
Meaning, it's unlikely this top is the same or identical. It's an "anticipation top"... we all realized BTC was going up, and going up over a long-term rise scenario. Then instead of rising over time with unbelief in the rise, it rose instantly over about 5 weeks. Now, we're all faced with valuation issues. People take profits. BTC may be worth 100k USD, but is it worth that in the next 30 days to keep this increase consistent with the trend?
And so if it crashes, the crash can't be the same or prolonged as 2018 because the downside isn't as huge. Nor is it likely we shoot straight to 50k to 100k. Meaning, price has to be explored by the market through a series of not easily predictable sharp moves up and down as price and boundaries are discovered.
At what price will whales support the new market we are in? At what price do whales dump on us and the market goes south quickly?
The trend we are in is upward, but the price movements are likely to be volatile as this trend plays out over some months.
Posted Using LeoFinance Beta
I pray for a BTC consolidation period of 2 weeks: https://leofinance.io/@cryptovios/where-are-we-heading-with-btc
Posted Using LeoFinance Beta