Good morning fellow bulls and welcome to the Bitcoin show. Today I have the 4hr time frame pulled up believe it or not and I can see 40k is still a reality. I keep expecting to wake up to a dip but nothing has materialized yet so color me optimistic. As family and friends start to notice Bitcoin (finally) I worry that this could indicate a sell signal. LOL. I remember back in 2017 when the run was in full swing. When noobs started taking notice the rug was pulled and we dipped. I am not convinced that is going to play out this pump but you better believe I am preparing for one just in case... This run feels different to me that 2017. I will explain myself in the coming paragraphs. So pull up a bean bag and grab a cold one. Lets get this party started.
I have a trend I drew on the chart recently and its still active. As long as we remain inside the borders of said trend up is the likely direction of the candles path. Ive said it before and Ill mention it now, the weekend can be boring and we may finally see that now that the holidays are over and everyone is getting back to a normal 9-5 life. But if you look at the last 2 or 3 weekends you would not think the weekend was a period of calm. Quite the opposite in fact. We saw major gains the last few weekends and this weekend may very well be more of the same. Only time will tell for sure, but I know after filling the gap last Monday (3500 dollar gap) in a matter of hours I will be watching for that gap to form this weekend.
Now the trend on the chart is ascending in nature. That means it will likely end in a break down. Thats the way these things work. We climb the trend until the bulls had their fill and the trend support breaks and we fall to former resistance which is now support. I drew a few areas that I am looking for support in the event of a drop. We have been in the current trend for around 5 days at this point and there are multiple instances of the candles respecting the trend. The earlier you identify a trend like this the more likely you are to profit off the knowledge. Identifying trends early is the key. Just remember the trend is your friend. They dont just say that for their health.
I know that when we were knocking on 20k's door a few weeks ago I expected us to break 20k. Mission accomplished. But I will be the first to admit 40k was way off my radar. Call me a pessimist or whatever but I assumed 25k would be an accomplishment. 40k is just insane. If you would have told me 40k was in play a month ago I would have scratched my head. Most of this run could not really be charted due to factors outside of traders control. Things like a pandemic, stimulus payments and unemployment all played a factor in this run. Not to mention the things we can see on the chart that caused the run i question (halving, breaking 2.5 year resistance, broke 20k.. .etc) Like I mentioned many times already it was the perfect storm. This perfect storm of bullish goodness took us far above 25k. I guess the lesson here is dont underestimate the bulls...
So its January 9th and we have not seen a dip. I was on the fence about a possible dip as tax season is around the corner and anyone that took profit last year is likely to owe a pretty satoshi this year. At least if you are in the US this is the case. The thing about this is 2021 is kind of strange as stimulus money has been flowing into many Americans bank accounts. This has almost certainly effected BTC's rise IMO. The stimulus has been a double boon for BTC. You see the stimulus money being dumped into peoples banks resulted in disposable income. Income that ultimately ended up in Bitcoin. Not all of it obviously but even if .5% of that stimulus money ended up in the BTC market cap that likely caused a decent rise. That coupled with fomo make BTC unstoppable. People getting stimulus money has also stopped people from cashing BTC out at this time. They would rather keep that BTC in a bull market and use the USD they received in the stimulus to pay their tax obligations.
Anyways I just thought I would drop my 2 sats on the current market. We have far surpassed my expectations and I would love to see more bull candles. I would love to see 50k and its certainly within our reach. I wont count my BTC before they are mined but I will tell you that Im not betting against the bulls at this point. They have shown they are for real this run... Can this bull run extend into mid January? I mean every second we stay above 40k in 2021 is a win IMO. I was not sure if the dip would happen in the new year or not and things look good so far. Stocks remain strong at the moment as well along with many alts. They seem to waking from their 3 year old slumber. Maybe the bag of telcoin I bought nearly 3 years ago is worth something now? LOL. Either way I hope you all enjoy your weekend my friends. Please be smart on the chart. Make good smart choices. And always remember WTFDIK???
TLDR: If you have loads of Bitcoin and you need cash now... Call JG Wentworth... 877 Cash Now!!! 877 Cash Now... 877 Cash now!!!
I have a trend I drew on the chart recently and its still active. As long as we remain inside the borders of said trend up is the likely direction of the candles path. Ive said it before and Ill mention it now, the weekend can be boring and we may finally see that now that the holidays are over and everyone is getting back to a normal 9-5 life. But if you look at the last 2 or 3 weekends you would not think the weekend was a period of calm. Quite the opposite in fact. We saw major gains the last few weekends and this weekend may very well be more of the same. Only time will tell for sure, but I know after filling the gap last Monday (3500 dollar gap) in a matter of hours I will be watching for that gap to form this weekend.
Now the trend on the chart is ascending in nature. That means it will likely end in a break down. Thats the way these things work. We climb the trend until the bulls had their fill and the trend support breaks and we fall to former resistance which is now support. I drew a few areas that I am looking for support in the event of a drop. We have been in the current trend for around 5 days at this point and there are multiple instances of the candles respecting the trend. The earlier you identify a trend like this the more likely you are to profit off the knowledge. Identifying trends early is the key. Just remember the trend is your friend. They dont just say that for their health.
I know that when we were knocking on 20k's door a few weeks ago I expected us to break 20k. Mission accomplished. But I will be the first to admit 40k was way off my radar. Call me a pessimist or whatever but I assumed 25k would be an accomplishment. 40k is just insane. If you would have told me 40k was in play a month ago I would have scratched my head. Most of this run could not really be charted due to factors outside of traders control. Things like a pandemic, stimulus payments and unemployment all played a factor in this run. Not to mention the things we can see on the chart that caused the run i question (halving, breaking 2.5 year resistance, broke 20k.. .etc) Like I mentioned many times already it was the perfect storm. This perfect storm of bullish goodness took us far above 25k. I guess the lesson here is dont underestimate the bulls...
So its January 9th and we have not seen a dip. I was on the fence about a possible dip as tax season is around the corner and anyone that took profit last year is likely to owe a pretty satoshi this year. At least if you are in the US this is the case. The thing about this is 2021 is kind of strange as stimulus money has been flowing into many Americans bank accounts. This has almost certainly effected BTC's rise IMO. The stimulus has been a double boon for BTC. You see the stimulus money being dumped into peoples banks resulted in disposable income. Income that ultimately ended up in Bitcoin. Not all of it obviously but even if .5% of that stimulus money ended up in the BTC market cap that likely caused a decent rise. That coupled with fomo make BTC unstoppable. People getting stimulus money has also stopped people from cashing BTC out at this time. They would rather keep that BTC in a bull market and use the USD they received in the stimulus to pay their tax obligations.
Anyways I just thought I would drop my 2 sats on the current market. We have far surpassed my expectations and I would love to see more bull candles. I would love to see 50k and its certainly within our reach. I wont count my BTC before they are mined but I will tell you that Im not betting against the bulls at this point. They have shown they are for real this run... Can this bull run extend into mid January? I mean every second we stay above 40k in 2021 is a win IMO. I was not sure if the dip would happen in the new year or not and things look good so far. Stocks remain strong at the moment as well along with many alts. They seem to waking from their 3 year old slumber. Maybe the bag of telcoin I bought nearly 3 years ago is worth something now? LOL. Either way I hope you all enjoy your weekend my friends. Please be smart on the chart. Make good smart choices. And always remember WTFDIK???
TLDR: If you have loads of Bitcoin and you need cash now... Call JG Wentworth... 877 Cash Now!!! 877 Cash Now... 877 Cash now!!!