I posted this once recently but nowhere to be found now so here it is again. I find these measurements almost to perfect and fitting for a full swing uptrend and downtrend. If we all stop and think about the current crypto space and scribe some notes down. Here's mine.
1. Bitcoin has made a run from the 3K region all the way to 69k. Also what is the most commonly retraced to fib ratio? .618 ????
2. Take away the CME and I guarantee we wouldn't of seen 2019 run.
3. This run took off fast. Why, because every person and their dog was waiting to jump on the fomo train. And it worked. Just faster than normal.
4. Every youtube influencer out there is constantly telling their followers how the crypto market is lengthing, or altcoins are entering a super cycle.
Holy shit, how much higher does some of these prices go? We're already looking at appreciations well into 150x. And these are top branded
projects.
I could be way off here and crypto just keeps going on up forever. But usually before a fall there's a complete disconnect with reality. Do you all think we have reached this point yet? Let me know in the comments.
1. Bitcoin has made a run from the 3K region all the way to 69k. Also what is the most commonly retraced to fib ratio? .618 ????
2. Take away the CME and I guarantee we wouldn't of seen 2019 run.
3. This run took off fast. Why, because every person and their dog was waiting to jump on the fomo train. And it worked. Just faster than normal.
4. Every youtube influencer out there is constantly telling their followers how the crypto market is lengthing, or altcoins are entering a super cycle.
Holy shit, how much higher does some of these prices go? We're already looking at appreciations well into 150x. And these are top branded
projects.
I could be way off here and crypto just keeps going on up forever. But usually before a fall there's a complete disconnect with reality. Do you all think we have reached this point yet? Let me know in the comments.
Comment:
Since publishing, Bitcoin has went onto finding a bottom at just under 40K. $7500 move. Currently sitting just under 43K. If 40k doesn't hold, I believe the next strongest support is 30k. I'll stand by my analysis until proven otherwise. I still believe, rather know there is still alot of froth in the market.