You and I, we must be getting old 

The card is gorgeous in real life: https://vimeo.com/423978914

We'll know by 3 June 

In all fairness, the best TA articles are the ones that prove right .... in hindsight 

TA permits us to see basically anything in charts. For instance:

• in the channel
• drop outside the channel
• (classic) retest in progress
• big drop after failing to re-enter the channel?

I'm placing my bet at HODL.

I found this article a good angle to look at this latest GS Bitcoin affair: https://medium.com/@omid.malekan/what-crypto-is-and-isnt-77853cb3b1ab

The trouble is: at the gate you aren’t the one doing the thinking. TSA does... 

I’m not going to defend the bear case here but I’m also cautious now for a pull back. But the remedy is course to just Hodl what you already have and buy at set period. Just a little more should prices tank short term 

Ok, that seems good news to me.

With this decline into the $8.xxx range, I get a better feeling about the bottoming process I was writing about earlier.



It's not perfect but on the 4h chart we start seeing subsequent bottom slams into the RSI. I expect the price to linger for a while (up to 3 weeks). If we can avoid a larger dump, it will be our launch pad for the next attempt to decisively go beyond $10k.

Oh, and leaving the (fictitious) channel is not a problem. Because fictitious 

After only a couple of F5's, I get the same faces again. Fake?

Thanks for the reply.

I'm not really looking for a price target in terms of a pull back. My thoughts are more about seeking a probably 'bottom' in technical indicators. While TA is generally not lauded in this thread, I do think technical indicators can give indications of tops/bottoms. It's all about finding probable setups.

They ain't the truth. As long as the outcome is more than 50% in the right direction, you are leaving the area of 'gambling' and moving into the area of 'calculated bets'.

I see technical indicators declining. For example, this is RSI on the 12h chart:



This could mean two things:

• loading up for another leg up
• worsening technicals leading to a large(r) drop

While I hope for the first, the second cannot be ruled out.

Now, if we would get a punch down with the indicators I mentioned dropping in the downside area's, this would strengthen the idea that the downward move is done for now (the latest correction in this uptrend has occurred). Without this move happening, I'm in limbo whether we are looking at worsening technicals or just technicals blowing off steam for reloading.

TL;DR: It's not about price targets, but wanting more confirmation of being at a bottom (medium term).

I hope this clarifies    

To add: the red block is around $9,400-9,500.

I hate to say it but a proper pull back would be good for fuelling the $10k rocket.

That’s because you are a rule follower (according to the system), not a rule maker.

There are probably a lot of people still waiting for their (second) card. The dream is a bit shattered now.

But it's good to hear that there is still a group that has a working card.

Step by step, Bart by Bart 

A theory about the 40 BTC moved from the 2009 wallet: https://www.reddit.com/r/Bitcoin/comments/gnhrj9/breaking_news_the_address_of_the_bitcoin_from/fr9rxb3?utm_medium=android_app&utm_source=share

Freedom IS messy. We’ll just have to deal with it.

Got my fiat ready to buy this temporary weakness 

In my view, price is creeping up again, ready to blow higher with leaps.

The current stability is good. Feeds the rocket.

The FED announced that GDP will shrink with 30% in the US.

SPX the next day: opening upside with a gap 

It reminds me of the stock market the day that Hurricane Katrina (2005) landed: stocks shot up big time right in the face of calamity.

This ain't your daddy's stock market anymore. Not since a long time.

If Bitcoin acts 'correlated', let the $10k hurdle fall....