Morning rant time
I am glad you bring up this point because you seems somewhat stressed by the cadence of your posts. Not sure if you are over invested, driving your own narrative or just want to have a conversation.
congrats! But now is the time to think about these things again.
I do not disagree.
Good day to you fellow cap wearer.
Good day sir.
All I can say is if we do get a massive handle to buy the dip with everything you have. I am of the mind things might be different..a lot of things went right for bitcoin this year. I believe it is going through another order of magnitude adjustment in its adoption phase and this, the halving and the pandemic have all place unique pressure on an already volatile market. Scarcity and the need for a secure portable store of wealth has met demand head on and the results are showing in recent price discovery.
-snip-
Yes, stick to the routine that works. Throw all your money into these deep dips. Don't question it, don't think about it, just BTFD. We all know it works, carry on...
What you assume is my routine and what is actually my routine might be very different then you think.
I also realise things could be very different, the 25-35% retracement may not happen from here, $25K or even $30K. For me, more of the issue is the lack of consolidation of higher prices, the current macro price swings <$20K have all been very wild compared to the textbook consolidation periods of 2016. If consolidating $14K price last summer for over a year counts as long enough consolidation for this level, then so be it, I'm more "concerned" we may have 3-6 months of price consolidation to come, even if not the deep dip.
Like in summer, many of us (including myself) felt we would correct further from a 150% gain, but we didn't, we just consolidated this price for a couple of months. This is why I'm convinced that this $10K level will be held, without a shadow of a doubt. Re-testing the $14K level however seems very logical, to re-test the year long resistance level that we recently broke through. I'd feel a lot better about the price if we re-tested sooner rather than later. Each to their own, I also like discounts.
If you read back carefully I never really disagreed with you in the first place. I thought your TA reasonable. Further, I even showed by chart of what I thought could be the maximum retracement at 33%. I think what everyone should consider is we just had a fairly massive correction..some 16+% on a daily candle..huge..over $2.7k. The price stabilised at a pretty solid floor around $17k after bouncing off where? Around 16.2k...the area you, me and everyone thought as a suspect consolidation zone. Was that enough? I dont know...what I do know is bitcoin has a habit of doing what it wants..and charts, TA and voodoo clouds can piss right off.
I have spoken.
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