The Holy Support: Year 0, Day 36 after Elon.
It was Year 0, Day 14 a.E. when I've had to feel once again that ugly feeling: to be surrounded by idiots. Pepole that looked wise and balanced just 12h before started talking about selling off, short down to 0, screaming suicidal wills. As many times when there is FUD and bad mood around socials and chats, I told friends not to sell a dime, then snoozed off. Screaming at THE END and willing to suicide in public is definitely not my way to handle worst case scenarios for my investments. The day after I popped up TV and found it was, yes, the worst correction ever in terms of USD, 57500 to 47400, or at least, I can't remember another -10100$ crash in a day. But a monster wick was made, the day closed 54173 on Year 0 Day 14 a.E. Someone, probably more than one big entity, has been buying one of the biggest crashes ever as if there was no tomorrow, as we'll be reading. As if at 48k BTC was in black friday sales, they pushed the price back to a -3400$ daily correction. A -7% total, seen so many times, so ordinary. This was the worst day: unexpected for many, hard to handle for everybody. After that, I realized we were going further down in the upcoming days. Futures OI took a huge hit. Many were worried, and talking about 28k, ready for spot sell. When this is the mood, any grain of salt can make a difference. Discussing with friends, I pointed their attention to the fact that just fifty days before we were glad to be right below 30k. We've had such a monster grow in the last days before Elon and in days 0-13 a.E., scoring 10 new ATH in 14 day candles, that a correction was due in any case, and would've been much worse (as many expected) if just there wasn't something exceptional going on.
Year 0, Day 17 a.E.: Morning news: Microstrategy acquires additional 19,452 BTC for $1.026 B. BTC rejected at 52k, further down, bad closure below 48k. Afternoon news: 13k
BTC flowed out from Coinbase a few hours ago.
Year 0, Day 19 a.E.: failed attempt to reclaim 48k, volume decreases, market's getting choppy, big news though: US House of Representatives passes $1.9 trillion pandemic relief package.
Year 0, Day 20 a.E.: fourth red day in a row, after Elon low moved down by ~700 USD. This dip is the end of the local retracement. This is the level at which everybody knows that bitcoin is currently a deal. There is actually so much demand at this level, that it seems made by a power we have never seen before. It's stronger than PA, TA, and FA, it is Holy. Therefor I named it the Holy Support.
Year 0, Day 22 a.E.: unable to hold 50k, touchdown to 47k. News: Another 12k Bitcoin outflow from Coinbase.
Year 0, Day 25 a.E.: touchdown to 46.3, reclaim 48.6 on close. News: 12kBTC flowed out from Coinbase again. Institutions still accumulating in this range.
Year 0, Day 28 a.E.: wick down to 49.3, closed 52.4k. News: Yet another 12kBTC withdrawal from Coinbase.
Year 0, Day 30 a.E.: News: Israeli pension giant put 100m into Grayscale bitcoin trust.
Institutionals are buying. Who is selling today, will hardly have a chance to buy back lower. The game is changed. The last news, the less relevant in terms of money, is the most symbolic one. Traditional finance is starting to buy in BTC to grant itself a future. They will be more and more. It's all about your patience to wait for FED to print more dollars while each day more investors try to escape it. The secret is in just 4 letters: HODL. In the last dip they were able to accumulate 80k BTC. Do you think they expect it to drop when buying billions of dollars in a week? Current psycological level at €50k is next FA-wise resistance. Break it = Heaven. 70k soon. 100k this year.
Don't give away your bitcoin now.
100% opinion based, my FA is NOT FINANCIAL ADVISE!
Read my previous idea on Bitcoin, it was featured in editor's picks!
Year 0, Day 17 a.E.: Morning news: Microstrategy acquires additional 19,452 BTC for $1.026 B. BTC rejected at 52k, further down, bad closure below 48k. Afternoon news: 13k
BTC flowed out from Coinbase a few hours ago.Year 0, Day 19 a.E.: failed attempt to reclaim 48k, volume decreases, market's getting choppy, big news though: US House of Representatives passes $1.9 trillion pandemic relief package.
Year 0, Day 20 a.E.: fourth red day in a row, after Elon low moved down by ~700 USD. This dip is the end of the local retracement. This is the level at which everybody knows that bitcoin is currently a deal. There is actually so much demand at this level, that it seems made by a power we have never seen before. It's stronger than PA, TA, and FA, it is Holy. Therefor I named it the Holy Support.
Year 0, Day 22 a.E.: unable to hold 50k, touchdown to 47k. News: Another 12k Bitcoin outflow from Coinbase.
Year 0, Day 25 a.E.: touchdown to 46.3, reclaim 48.6 on close. News: 12k
BTC flowed out from Coinbase again. Institutions still accumulating in this range.Year 0, Day 28 a.E.: wick down to 49.3, closed 52.4k. News: Yet another 12k
BTC withdrawal from Coinbase.Year 0, Day 30 a.E.: News: Israeli pension giant put 100m into Grayscale bitcoin trust.
Institutionals are buying. Who is selling today, will hardly have a chance to buy back lower. The game is changed. The last news, the less relevant in terms of money, is the most symbolic one. Traditional finance is starting to buy in BTC to grant itself a future. They will be more and more. It's all about your patience to wait for FED to print more dollars while each day more investors try to escape it. The secret is in just 4 letters: HODL. In the last dip they were able to accumulate 80k BTC. Do you think they expect it to drop when buying billions of dollars in a week? Current psycological level at €50k is next FA-wise resistance. Break it = Heaven. 70k soon. 100k this year.
Don't give away your bitcoin now.
100% opinion based, my FA is NOT FINANCIAL ADVISE!
Read my previous idea on Bitcoin, it was featured in editor's picks!
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