Waiting For Btc To Hit 4000-3800, Then All Balls In!

[Workbox]

Argument could be made that it is building a short term base for a move towards $5-6k. But no evidence of building any kind of base for a new long term uptrend.

True, but either way, BTC has finished it's 4th cycle of 85% pullback and now have to get ready for another breakthrough. But this time is no about BTC, but blockchain.

 

[Joe Flacco]

What is so magical about the 85%?

 

[Meandering]

View attachment 38852

Nice six year base for Gold. Out of box confirms uptrend. Higher highs and higher lows.

You want to see Bitcoin doing something like this before accumulating. Building a base. Equal highs and higher lows. Bitcoin / Crypto is doing nothing like this. Bitcoin probably has years to go before it looks like it is building a base.

Magical number is 10

Years between recessions, we're due.
Look at the historical reaction of gold to recession.

In for 2 out for 8. Not hard.

.

 

[Joe Flacco]

Look how long that previous base was for gold. It took 25 years to build and break out of the base. Just a reminder that the current base is not in a new uptrend until it breaks out higher out of the box.

 

[Workbox]

What is so magical about the 85%?

BTC has gone through 3 pullbacks since started and now finishing it's 4th cycle that retraced to around the 85% range from it's highest or hit the .786 Fibonacci retracement.

 

[QWERTY Pi]

True, but either way, BTC has finished it's 4th cycle of 85% pullback and now have to get ready for another breakthrough. But this time is no about BTC, but blockchain.

The bet boils down to choosing Scarcity, or facilitating Commerce. I'm in agreement the blockchain ledger is a good bet (not necessarily BTC). Smartphone sales in developing nations aren't stagnant (they're still on the up).

 

[Workbox]

Looks like Chase did a 180 on Crypto........but we knew they would do this.

 

[RCA]

Looks like Chase did a 180 on Crypto........but we knew they would do this.

The practical use case is that it makes transactions inherently secure, particularly if JPM Chase is manufacturing its own cryptocurrency, this in turn allows transactions to proceed at a much faster rate, particularly on an international level.

 

[Non Sequitur]

Looks like Chase did a 180 on Crypto........but we knew they would do this.

Their version of Disney Money.

 

[Elliott]