The Big Cryptowski
Sales & Marketing Professional | Crypto Enthusiast | Fundamental & Technical Analyst
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#Bitcoin has grown by almost 190% this year.
In the last few months, we have been bombarded with so many 'news' articles about the Bitcoin ETF.
They keep obsessing about it. They want you to believe that is the reason for this positive price action.
In 2021, it was NFT. In 2018, it was ICO.
The simple truth is, the price is getting manipulated to the upside. This is the time to slowly DCA out of the market if you are already in.
Pretty soon, the price will get manipulated to the downside. That would be the time to DCA into it if you are interested.
All the 'news' articles that we get bombarded with, could talk about the 'reasons' for this price action.
They could talk about ETF, NFT, ICO, SEC, IRS, WEF, FBI, CIA, FSP, ISI, CCP or whatever other three letter acronyms they can think of.
None of those are relevant.
Those who believe in Bitcoin, should focus just on two acronyms - BTC and DCA.
And say GFY to anything else.
#Bitcoin #Crypto #ETFApprovalHype
In the last few months, we have been bombarded with so many 'news' articles about the Bitcoin ETF.
They keep obsessing about it. They want you to believe that is the reason for this positive price action.
In 2021, it was NFT. In 2018, it was ICO.
The simple truth is, the price is getting manipulated to the upside. This is the time to slowly DCA out of the market if you are already in.
Pretty soon, the price will get manipulated to the downside. That would be the time to DCA into it if you are interested.
All the 'news' articles that we get bombarded with, could talk about the 'reasons' for this price action.
They could talk about ETF, NFT, ICO, SEC, IRS, WEF, FBI, CIA, FSP, ISI, CCP or whatever other three letter acronyms they can think of.
None of those are relevant.
Those who believe in Bitcoin, should focus just on two acronyms - BTC and DCA.
And say GFY to anything else.
#Bitcoin #Crypto #ETFApprovalHype
#Ethereum on the longer timeframe. . .
If $ETH #ETH gets rejected at the 0.382 Fib level around $2400, there is a good chance that the low is not in yet.
We could dump to <$880 later. The moonbois will not want to believe this, of course.
However, if it blasts through the resistance, we could see it go up to $3344 which is the 0.618 level.
In that case, we will not go below $880 anymore, and are in a strong uptrend and bull market.
Nevertheless, this is the level to watch.
NFA
If $ETH #ETH gets rejected at the 0.382 Fib level around $2400, there is a good chance that the low is not in yet.
We could dump to <$880 later. The moonbois will not want to believe this, of course.
However, if it blasts through the resistance, we could see it go up to $3344 which is the 0.618 level.
In that case, we will not go below $880 anymore, and are in a strong uptrend and bull market.
Nevertheless, this is the level to watch.
NFA
#MyFirstFeedPost Hello, Binance Square!
#Bitcoin on the monthly time frame:
Zoom out and consider the larger picture... The run up we have had this year is smaller than the one in 2019 from 3150 to 14000.
The 2019 rally took BTC to 70% of its previous ATH, before it dumped by 73% to 3800 during the COVID lockdown crash.
70% of the current ATH comes to just over 48-48.5k which is also around the 0.618 Fib (golden ratio).
If we correct by around 60-70% from there, we would go back to the 17-19k range which was where we were stuck in the second half of 2022.
But if we correct by just 38-40%, we will tag the range between 28800-30000. This is the same level as the May-Jul 2021 dump.
If we close this rally above 48.5k, then all of these calculations are irrelevant.
#NFA
#Bitcoin on the monthly time frame:
Zoom out and consider the larger picture... The run up we have had this year is smaller than the one in 2019 from 3150 to 14000.
The 2019 rally took BTC to 70% of its previous ATH, before it dumped by 73% to 3800 during the COVID lockdown crash.
70% of the current ATH comes to just over 48-48.5k which is also around the 0.618 Fib (golden ratio).
If we correct by around 60-70% from there, we would go back to the 17-19k range which was where we were stuck in the second half of 2022.
But if we correct by just 38-40%, we will tag the range between 28800-30000. This is the same level as the May-Jul 2021 dump.
If we close this rally above 48.5k, then all of these calculations are irrelevant.
#NFA