Price Discovery Phase - Deep Sigh - We made it Men!!
What a blessed year guys!
It's time to pull out the celebration hats, and take the bows - we blasted through 20k into 21.3k. This buying volume confirmed the suspicions that we just underwent a massive institutional accumulation phase. The patterns & volume told the story and the price followed through.
EMA is pointing to the start of a wonderful bull run higher now. There is a chance of a pullback to shake out some of the new weak hands, but I estimate that after such a large accumulation phase we are embarking into price discovery to find where the severe resistance is too be located. Hunting into new all time highs is going to give confidence to HDOL mentality, and it also is indicative that your average retail/institution position is in the profit zone - as the price is at all time high. This chase for yield in a market of plunging rates and weakening dollar could not be better suited on the macrofront for BTC. Along with the avalanche of macro-factors and the absurdly low rate of 0.75% for the 650m GBTC note?! I mean there is not only a lot to be confident about, there are now massive expectations of where price can go. Particularly when compounded by the JP Morgan & Citi Group calls of $100,000-$500,000 a coin.
I think it will be explosive as corporations look to protect their retained earnings, as safety market caps leave the 11T dollar gold market and embark in the chase for yield 500B crypto market. Imagine when entire markets MOVE onto the block chain - this will be explosive growth, and I estimate that the currency is going to grow, but that there will also be many more unicorns appearing in FinTech as the DeFi network gets established and easy to run on.
Where does BTC go from here? I estimate much higher. As for my position personally? I am asked if I am going to take profit soon - having much more than doubled my money in this position it would have to be a silly reason to hop off this rocket to the moon.
I have tons of risk exposed in BTC right now, and I will remain risk on.
Buy every dip.
It's time to pull out the celebration hats, and take the bows - we blasted through 20k into 21.3k. This buying volume confirmed the suspicions that we just underwent a massive institutional accumulation phase. The patterns & volume told the story and the price followed through.
EMA is pointing to the start of a wonderful bull run higher now. There is a chance of a pullback to shake out some of the new weak hands, but I estimate that after such a large accumulation phase we are embarking into price discovery to find where the severe resistance is too be located. Hunting into new all time highs is going to give confidence to HDOL mentality, and it also is indicative that your average retail/institution position is in the profit zone - as the price is at all time high. This chase for yield in a market of plunging rates and weakening dollar could not be better suited on the macrofront for BTC. Along with the avalanche of macro-factors and the absurdly low rate of 0.75% for the 650m GBTC note?! I mean there is not only a lot to be confident about, there are now massive expectations of where price can go. Particularly when compounded by the JP Morgan & Citi Group calls of $100,000-$500,000 a coin.
I think it will be explosive as corporations look to protect their retained earnings, as safety market caps leave the 11T dollar gold market and embark in the chase for yield 500B crypto market. Imagine when entire markets MOVE onto the block chain - this will be explosive growth, and I estimate that the currency is going to grow, but that there will also be many more unicorns appearing in FinTech as the DeFi network gets established and easy to run on.
Where does BTC go from here? I estimate much higher. As for my position personally? I am asked if I am going to take profit soon - having much more than doubled my money in this position it would have to be a silly reason to hop off this rocket to the moon.
I have tons of risk exposed in BTC right now, and I will remain risk on.
Buy every dip.
ملاحظة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.