MERCmethod

BTCUSD: Wave 1 of 3 almost complete in rally towards $250,000

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Have a great day
Full Course: http://bit.ly/36cxsJU

Crypto EW Analysis: http://bit.ly/2NMxHVH

Macro EW Analysis (EW Course): http://bit.ly/2VzYV6i

Stock Market Updates: https://bit.ly/2VgvA00

Podcast: https://bit.ly/3gnyEjy

YouTube: https: https://bit.ly/3jWI8nZ

Comments

The whales will not let you ride your 4k position to 250k. Major shakeout and bottom consolidation coming. People will give up on bitcoin, at which time it will start the bull run.
+4 Reply
ReallyMe nagihatoum
@nagihatoum, Agreed. If one sticks to the so-called "simple rules" without adding a lot of wishful thinking, when you look at the price development in the video, one sees at best a sideways trending market, with lower highs since 2018, that is objectively all there is to see.
+2 Reply
MERCmethod ReallyMe
@ReallyMe, "one sees at best a sideways trending market" that's +200% off the lows lol
Reply
ReallyMe MERCmethod
@MERCmethod, in my time in the stock market, I have learned not to rule out anything, but at the same time I am very sceptical whether this alone is sufficient reason to justify the expectation of a rally towards $250,000
+1 Reply
MERCmethod ReallyMe
@ReallyMe, how do you justify Gold market cap at $10 trillion but you cant see the same innate qualities of BTC?
Reply
ReallyMe MERCmethod
@MERCmethod, well, for one thing, because Gold has been traded for over 5000 years in the history of mankind and has reached ever higher highs during this time and Bitcoin has only been traded for 10 years and doesn't seem to make it. Gold cannot be destroyed, where will Bitcoin be when all Chinese miner nodes are shut down?
+1 Reply
MERCmethod ReallyMe
@ReallyMe, IF BTC was a scam and a Ponzi and everything else the bears are throwing at it, it would have disappeared on its first greater than 80% drop. Its already shown durability after surviving 3 brutal bear markets. Don't be Noriel Roubini or Peter Schiff. Both have been calling tops since $100.
Reply
ReallyMe MERCmethod
@MERCmethod, the Dutch "tulip mania" had also gradually begun around 1620, before it reached its peak and subsequent collapse in February 1637. Gold did not.
Reply
MERCmethod ReallyMe
@ReallyMe, "Its already shown durability after surviving 3 brutal bear markets." - were talking about BTC not Gold. Your comments 100% agree with what I'm saying, Tulipmania started on 12th November 1636 (not 1620) where prices traded close to 1, peaked on Feb 3rd, 1637 at close to 200 and collapsed to 0.10 by May 1st. Mania's begin and end in relatively short periods of time. BTC is not mania, it's not growing exponentially.
Reply
We will see what happend :) Nice analysis

Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out