Welcoem to posts!!
in the future - u will be able to do some more stuff here,,,!! like pat catgirl- i mean um yeah... for now u can only see others's posts :c
I expect several green MONTHLY candles after such a breakout. (image #1)
Think about it: BTC was held under resistance for 7 months and finally broke free. That's tremendous force.
Average time to double is 24 days, historically. (image #2)
Strap in.
45 - 4
The Ethereum ETF "Form 19b-4" approval was a sell-the-news event.
#ETHBTC deviated above the white trend line briefly due to enthusiasm, but was rejected
#ETHUSD couldn't break above local resistance
The ETF is not live yet, so hype is gone. It's BTC's turn to regain strength
12 - 4
A few people suggested I should weight my selling based on the CBBI.info/ score as well. Should I do this?
For example:
Sell 1% BTC per week if CBBI is between 80-90,
Sell 2% BTC per week if CBBI is 90-95, and
Sell 3%+ BTC per week if CBBI is 95-100.
If you are unfamiliar with CBBI, see link above (TL;DR: It's a bitcoin price index I created).
8 - 12
Time to Bitcoin Doubling After Previous ATH Surpassed, with visuals.
▶️ 39 days average to double price after breaking previous ATH. ◀️
I created these charts myself and re-counted all of this, to ensure accuracy.
2013: 30 days to double price, once surpassing previous ATH of $17.
2013: 12 days to double price, once surpassing previous ATH of $255.
2017: 91 days to double price, once surpassing previous ATH of $1,150.
2021: 23 days to double price, once surpassing previous ATH of $19,900.
Note: I am aware that some early 2013 charts show a peak of $31 instead of $17, and I have a chart of that as well, but it's a similar time until doubling. I decided to keep the the consistency of Bitstamp as the source for all of the charts.
62 - 9
My #Crypto portfolio for 2024:
#Bitcoin (80%)
—— Altcoins (10% total) ——
#TIA
#PLS, $PLSX, $HEX
#XEN (waiting for 2024 burn event)
#LUNA (leftover & forcibly staked)
#VARA
#VELA (Exchange on Arbitrum)
#VMPX (a tiny bit)
#CHEX (a tiny bit)
+BTC Miner call options
Cash (10%)
I look forward to swapping some $BTC for $ETH in the coming months
23 - 13
Update:
#bitcoin is back in the channel!
The breakout was a deviation (until proven otherwise).
A break down is not out of the cards. Idea no longer invalidated. Luckily the price is still above the blue line. If it goes below that, watch out.
11 - 7
Update:
The #bitcoin daily candle is looking strong. It has 9 hours to close.
It did close above the upper channel range on the 12 hour candle. Bullish.
No bearish move seen. Break down from the channel is invalidated.
As long as BTC remains above that upper blue support line, it’s looking quite bullish. Let’s hope for a daily close above it, and a weekly close above it, next.
If, in the next week, by some miracle, the ETFs do get approved, the price will almost certainly surge and not look back.
If ETFs are delayed, we will probably will see a pullback in the short term.
Let’s get that ETF news.
17 - 6
I am bullish on #bitcoin in the short term.
The TA supports it, and the BTC ETF narrative supports it.
Once such a rally is over, I’m still expecting a massive crash of stock market, as the Fed’s high interest rate pain accelerates.
In regard to BTC reaching $18k-$23k, now that BTC has broken above $32k decisively, it's not as likely in the near term.
Only if BTC broke back below $30k and remained there would that option return to the table. Otherwise, the rally is the trend currently.
I think it's still definitely possible BTC could revisit those lower ranges *after* the current rally is over and when a major crash of the stock market occurs.
Also, if BTC does rally sharply in the next few months, #ETHBTC will likely drop rapidly even if #ETH (priced in USD) climbs. This would be because BTC would be climbing more strongly.
The economy isn't out of the woods. But the delay can be almost intolerable to those waiting for it. And in that meantime, Bitcoin can do anything.
29 - 8
The #Bitcoin #Halving Event is coming April 2024.
However, a large economic crash is also coming.
How will these two events interplay?
Listen.
➡️ Bitcoin won’t make it past the halving before the broader economic crash begins. ⬅️
And, for the sake of argument, even if you think the economic crash could somehow be staved off beyond the bitcoin halving event, here is the truth: The Bitcoin Halving *doesn’t mark the start* of a new bull run.
Historically, there is a *1 - 1.6 year delay* until the bitcoin bull reaches its peak. (This could be getting longer each cycle, but we'll be conservative and assume it will follow the same pattern).
So you have to add another 1 - 1.6 years on top of the halving date of April 2024. This comes to Apr - Nov 2025.
It then becomes clear that Bitcoin simply won’t make it to the next bitcoin bull run unscathed by the economic effects of the Fed interest rates being so high.
Corollary datum (like it or not):
Crypto is correlated to stocks. Crypto is not (yet) impervious nor decoupled from stock market shocks. The 2020 pandemic proved this, as just one of the bigger examples. If BTC can't withstand the pandemic crash, how would it withstand a larger stock market crash?
This all being said, a large economic crash can take a long time to fully play out. It could take 1.5 - 2 years for the economy to finish bottoming. That is a long time to experience rallies, but still on the way down.
Optimistic Hope:
Now, maybe— just maybe— at some point during this major recession, some level of bitcoin decoupling occurs, as people flee to safer assets. I am hopeful this is the case and I think it's an inevitable outcome, eventually. But I don't think Bitcoin escapes the initial shocks of a broad market downturn, especially during the acute moments of any steeper stock market crashes.
Either way, it’s going to be a wild ride.
The Very Long Term View:
In the end (with the time frame of a decade+), I have no doubt that BTC will emerge victorious above the repugnant, debased and devalued dollar, which has been printed and then printed some more, into abused oblivion, which is the fate of every fiat currency that ever existed.
May you weather the coming years with both luck and skill!
And, if you doubt that a large economic downturn is happening in the near future, watch this video clip where I detail why I strongly believe this is coming: twitter.com/ColinTCrypto/status/168528060390036684…
17 - 3
#Bitcoin's likely path
BTC continues to roll over as evidenced by:
• Lower highs and lower lows
• Double rejected from underside of $29.6k resistance zone (red line)
• BTC just double tested the EMA 8 and 34 (green and yellow lines) from the underside and was rejected twice.
Where is the next support?
$28.5k. If this doesn't hold, which is quite possible, $27.3k is the next, extremely strong support level. I expect a likely rebound from here if it drops this far.
At $27.3k we have:
• the 200 weekly moving average
• the 200 day moving average and
• the past price structure
All forming a massive support level (white oval on the right). It will be difficult to breach this and is very likely to rebound from here.
15 - 0
I've been in the cryptocurrency space since 2013. Colin Talks Crypto is a cryptocurrency-focused social media channel, created in June 2018.
My Beliefs:
• Crypto will make the world a better place.
• Cryptocurrency is the vehicle by which mankind can free itself from the abuses of money.
I have watched many bubbles, starting from the Cypress bubble in 2013 when the price of a single Bitcoin reached $255. I next watched the excitement as the price of a single Bitcoin reached $1150 in late 2013. The next bubble was in 2017, when I experienced the price of a single Bitcoin reach $20,000.
I believe there are many more cycles coming like this, and we are still at the beginning stages of this great crypto movement.
I tend to cover the general market and also cryptos that I hold, and thus know more about, such as BTC, ETH, LUNA, BCH, EOS. I many cover others as well.
💜 Learn more at ColinTalksCrypto.com
💗 You can tip me and leave a message here: Cointr.ee/ctc