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BackInTheGame78

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Looks to be rising back up!
Don't get too euphoric... that's when they drop price back to grab all the liquidity down below.

But on balance we are looking really good for a big push in the coming months.

Just saw a rejection right around 48K...could be the trigger to start a healthy retracement. Opened a few shorts on tokens with double tweezer tops on the 4 HR charts
 

Bingo-Player

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Seems bitcoin has been barcoding between high 30's and low 40's for months

Where is the next catalyst for "moon" coming i wonder
 

BackInTheGame78

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Seems bitcoin has been barcoding between high 30's and low 40's for months

Where is the next catalyst for "moon" coming i wonder
If the SPX dumps like most expect I think it's going to dump with it...macro headwinds are not in it's favor, but big discounts could be ahead.

The line in the sand is around 37K. Beneath that it is in trouble.
 

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jaygreenb

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If the SPX dumps like most expect I think it's going to dump with it...macro headwinds are not in it's favor, but big discounts could be ahead.

The line in the sand is around 37K. Beneath that it is in trouble.
Will be interesting to see how all this shakes out, I would welcome a big capitulation, I have had a lot of cash on the sidelines that I have been waiting a while with.
 

DEEZEDBRAH

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Seems bitcoin has been barcoding between high 30's and low 40's for months

Where is the next catalyst for "moon" coming i wonder
It will happen when least expected. Sadly too many are shaken out. Whales are stacking their bags. Retail keeps buying rubbish.
Will be interesting to see how all this shakes out, I would welcome a big capitulation, I have had a lot of cash on the sidelines that I have been waiting a while with.
Same. I have foolishly tried to time the bottom. Missed 29k assuming it may go lower. Been DCAing ever since.

My play in 2022 is less products and going in hard on the projects of my choosing. Also, looking to jump in on some mastermind groups following the Ws I've had. I never been in an abundance of projects. Now I'm looking at far less and bullish on these projects.
 

BackInTheGame78

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The weekly chart tells the story pretty well I think.

We have a bigger falling wedge with a bearish pennant inside it. This makes sense for a few reasons...first, the falling wedge is ultimately a bullish pattern, meaning once it breaks there will be a massive run up. However there needs to be at least two lower trend line touches, which is where the bearish pennant comes into play. I'm expecting it to break down which will lead to the second lower trendline touch and then sideways action before breaking out of the larger falling wedge formation. This would coincide with a slow summer period with price dropping to the mid 20K range and then slowly consolidating there before breaking out bullishly potentially in late summer or fall.

The "M" formation on the monthly chart is invalidated as the legs of the "M" go straight up or down(like the upward leg does) and it's been going sideways for 3 months now.

There can be more than 2 lower trendline touches so there is a chance it could fall lower than the mid 20Ks, but I would not expect much lower.

Just what I am seeing when I look at the charts, no guarantee this will play out, patterns don't have 100% accuracy rates, this is just the most likely scenario based on what is presented on the charts as I am looking at it more closely now on the weekly timeframe.
 

Bible_Belt

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If bitcoin just follows the stock market like it has proven to do, what then is the advantage to trading btc, as compared to trading market futures?
 

jaygreenb

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The weekly chart tells the story pretty well I think.

We have a bigger falling wedge with a bearish pennant inside it. This makes sense for a few reasons...first, the falling wedge is ultimately a bullish pattern, meaning once it breaks there will be a massive run up. However there needs to be at least two lower trend line touches, which is where the bearish pennant comes into play. I'm expecting it to break down which will lead to the second lower trendline touch and then sideways action before breaking out of the larger falling wedge formation. This would coincide with a slow summer period with price dropping to the mid 20K range and then slowly consolidating there before breaking out bullishly potentially in late summer or fall.

The "M" formation on the monthly chart is invalidated as the legs of the "M" go straight up or down(like the upward leg does) and it's been going sideways for 3 months now.

There can be more than 2 lower trendline touches so there is a chance it could fall lower than the mid 20Ks, but I would not expect much lower.

Just what I am seeing when I look at the charts, no guarantee this will play out, patterns don't have 100% accuracy rates, this is just the most likely scenario based on what is presented on the charts as I am looking at it more closely now on the weekly timeframe.
These 4yr cycles seem to just repeat, 30k feels similar to 6K back in 2018. It was a strong support area for a long time then we had a final capitulation down to around 3100 at the end of 18. Bear markets can be long a brutal, if we are in fact repeating the 4yr cycle, new highs won't happen until after the havening at the end of 2024. Alt coins, especially the small caps lost around 99%, even Eth lost 95%. Most will not return to their highs in USD or BTC. Of course I hope that isn't the case but best to be mentally prepared, it can play with your emotions. This is also where the money is really made, the bulk of the money I made was buying the market in 18&19. Having the cash flow is key.
 

jaygreenb

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What apps are you using to purchase btc, eth and alts? Strike and Coinbase?

Btw for anyone who wants to chart I think Litecoin is a great buy right now.
Yeah, strike is the cheapest but it is only btc and has low limits. Everything else is coinbase pro or kucoin. Be careful buying alts right now, don't want to catch a falling knife. If btc has another leg down, alts will go down much farther.
 

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jaygreenb

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BTC and ETH are at their low points when I first started looking into this... Should I load up?
I would just set a relatively low DCA, if it drops farther you can do individual larger buys. Wouldn't rush into anything at all with current macro back drop. Imagine there will be plenty of buy opps. Personally would not touch alt coins, they can fall much farther. Majority will go down 95%+
 

Reyaj

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I would just set a relatively low DCA, if it drops farther you can do individual larger buys. Wouldn't rush into anything at all with current macro back drop. Imagine there will be plenty of buy opps. Personally would not touch alt coins, they can fall much farther. Majority will go down 95%+
Wow this thing is dipping fast.. I'm holding though
 

BackInTheGame78

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BTC and ETH are at their low points when I first started looking into this... Should I load up?
I'd wait. I think it's going lower...maybe 23-24K, possibly even into the high teens. Depends how badly the stock market dumps eventually and how strong the US Dollar Index keeps chugging along to decade highs...
 

BackInTheGame78

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I would just set a relatively low DCA, if it drops farther you can do individual larger buys. Wouldn't rush into anything at all with current macro back drop. Imagine there will be plenty of buy opps. Personally would not touch alt coins, they can fall much farther. Majority will go down 95%+
I'm just doing scalps on alts for longs with long term plan to short them at any local high until that stops working.

Also have perfected M1 timeframe NY reversal trendline break shorts that usually hit for 20-40% profits within a few hours
 
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