Most analysis's I read has the scenario of BTC going to 2k, then proceeding to moon in the near future. But what if we ROCKET up right now? Is this possible and could it happen?
Before I get started, yes this is a little outlandish and more speculative then anything. Yes bears, I know I am wrong and I don't know anything technical analysis or have any charting ability cause the corrective wave HAS to be at 2k. Now that is out of the way lets look at some things we have going on right now.
the Technicals:
The Daily: It appears we are in a MASSIVE triangle, is this just a continuation triangle that has been building over the last 2-3 years?
The Monthly: We are about to create a MASSIVE wick on the monthly, could we rocket the other direction?
We all know that governments are pumping a huge amount of money into the economy. Essentially the perfect storm has been laid out for bitcoin.
Let's play the "What If" game for a minute.
"What If?" The perfect storm for bitcoin follows through? Where would that put us price wise?
"What if?" All of the leveraged traders and panic sellers are out of the game?
"What if?" all of the fomo kicks in, in April as people are sitting at home watching the markets?
"What if?" the halving still needs to be priced in?
"What if?" The fed decides to buy some bitcoin with all of the other assets it's buying?
What happens when the liquidation engines reverse on the leveraged exchanges and they are forced to buy to cover themselves instead of liquidate?
Happy trading and hodling,
-Sherem
Before I get started, yes this is a little outlandish and more speculative then anything. Yes bears, I know I am wrong and I don't know anything technical analysis or have any charting ability cause the corrective wave HAS to be at 2k. Now that is out of the way lets look at some things we have going on right now.
the Technicals:
The Daily: It appears we are in a MASSIVE triangle, is this just a continuation triangle that has been building over the last 2-3 years?
The Monthly: We are about to create a MASSIVE wick on the monthly, could we rocket the other direction?
We all know that governments are pumping a huge amount of money into the economy. Essentially the perfect storm has been laid out for bitcoin.
Let's play the "What If" game for a minute.
"What If?" The perfect storm for bitcoin follows through? Where would that put us price wise?
"What if?" All of the leveraged traders and panic sellers are out of the game?
"What if?" all of the fomo kicks in, in April as people are sitting at home watching the markets?
"What if?" the halving still needs to be priced in?
"What if?" The fed decides to buy some bitcoin with all of the other assets it's buying?
What happens when the liquidation engines reverse on the leveraged exchanges and they are forced to buy to cover themselves instead of liquidate?
Happy trading and hodling,
-Sherem
Comment:
Well look at that, 6600!
Comment:
$7,000 is the resistance to watch, if we get above that we should start going a lot higher
Comment:
Well, we broke $7,000.
Comment:
If we close above $7,200 we will go up in a big way -
Comment:
correction* we SHOULD go up in a big way, never will's in trading.
Comment:
Another 2.3 trillion in stimulus. If this pops its really going to move.
