Price of Bitcoin? Ask Doji.
Updated
This chart above shows the price of Bitcoin for the last month. The drawing is a Doji, which we all recognize as a sign that indicates that the price will reverse soon. But my Doji has the correct long red tongue as shown in the Textbook of Technical Analysis, but this part of the Doji is missing from the stock chart for Bitcoin. It is some law of nature that all prices must follow the shape of the Doji. If that is true, the price of Bitcoin is going to go down like a missile soon. Duh!
If that doesn't make you nervous, then you're either not conscious or pretty stupid.
Doji is the Japanese word for "falling down."
Goldman-Sachs thinks that Bitcoin will go down by half, based on Fibonacci retracements. I was relieved to hear that because that means that they have no idea why Bitcoin will go down to that level. Bitcoin goes up in price exponentially. If the number of people buying Bitcoin doubles, then the price doubles. If your $5 stock doubles, nobody cares, but if your $5000 Bitcoin doubles, then that's a really "big deal." Now if the number of people wanting Bitcoin declines by half, you better believe that the value of Bitcoin will decrease by half. Bitcoin prices depend on there being people wanting to buy the coin.
So as long as people are still wanting to buy Bitcoin, prices will continue to increase exponentially.
How are you going to know when to sell your Bitcoin?
Maybe I'll tell you .... right before I exit the airplane with my parachute on.
Postscript: Beta brainwaves dominate our waking state of consciousness during cognitive tasks. Beta waves are ‘fast’ activity and are present when we are alert, attentive, engaged in problem solving, judgment, decision making, or focused mental activity, such as investing in Bitcoins.
If that doesn't make you nervous, then you're either not conscious or pretty stupid.
Doji is the Japanese word for "falling down."
Goldman-Sachs thinks that Bitcoin will go down by half, based on Fibonacci retracements. I was relieved to hear that because that means that they have no idea why Bitcoin will go down to that level. Bitcoin goes up in price exponentially. If the number of people buying Bitcoin doubles, then the price doubles. If your $5 stock doubles, nobody cares, but if your $5000 Bitcoin doubles, then that's a really "big deal." Now if the number of people wanting Bitcoin declines by half, you better believe that the value of Bitcoin will decrease by half. Bitcoin prices depend on there being people wanting to buy the coin.
So as long as people are still wanting to buy Bitcoin, prices will continue to increase exponentially.
How are you going to know when to sell your Bitcoin?
Maybe I'll tell you .... right before I exit the airplane with my parachute on.
Postscript: Beta brainwaves dominate our waking state of consciousness during cognitive tasks. Beta waves are ‘fast’ activity and are present when we are alert, attentive, engaged in problem solving, judgment, decision making, or focused mental activity, such as investing in Bitcoins.
Note
Comment: BTC heading skyward now as scheduled. Target 4700, then don't be the last one rearranging the deck chairs.Note
Up, down, up, down yesterday. Right? More up than down like I said; therefore, we are closer to 4700. This is not rocket science.Up, down, up, down is a law of nature, and this sequence happens every day. Do you love your wife? On the average, yes, but the short-term level is up, down, up, down. More downs than ups means divorce court. Do you love Bitcoins? Yes, but the level is up, down, up down. Have you figured that out yet? It's all neuropsychology.
Alpha brainwaves are dominant during quietly flowing thoughts, and in meditative states. Alpha is in the present. Alpha is the baseline state for the brain. Alpha waves aid in overall calmness, alertness, and learning. Bitcoin is in alpha right now; therefore, not much happening, except movement up.
Note
I think we are going down from here.Note
I would consider reducing long exposure. This is not investment advice. Always consult a financial advisor before making any financial decision.Note
Going back up in 2 hours. Get long then.Note
Going up big next wave.Note
Cancel that. Texas flood means down.
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