Long

Long on bitcoin

Updated

At this point I am not certain if we are headed right to all time highs, but this bounce should be epic anyway.

If you are not all in right now you're probably being fear mongered by every single influencer which is bearish.

I've been through the cycles, I know how it goes.

This will look something like an adam and eve bottom. Many indicators show we have bottomed, but common sense is the only indicator you need.

Note

So I will add a little more detail now since i gave time.

In this IDEA below, I show the DXY going sideways, which in the past is where bitcoin bottoms and starts making higher lows and higher highs.

Hopefully everyone can see it, the moderators told me they UN-reccomended it due to colorful language :P

I also have shown in past posts that we have peaked in inflation

and I have also shown that the top in oil is in to help support the inflation argument

Peak in oil, rising wedge, everyones too bullish on it.

There are many other commodities that are rekt as well.

As for sentiment, in the past week I have found that even the most bullish crypto influencers have either turned into complete bears, or are making forward looking statements which will cover their butt in case we go down.

My strong point is sentiment check, and right now is screaming bottom.

I also called the top (literally) on bitcoin due to sentiment

Note

Also show the top in gold here, which is a great indicator of inflation going down.

Gold gonna dump harder than my morning stoool

Note

Putin threatens nuclear war, and escalates war with 300k more troops.

Powell trolls with more rate increases and super dooper hawkish still

Market moves up.

Perhaps its too soon to speak, but it seems to have chosen a direction.

Bears need a miracle to see lower prices.

At the end of the day almost all bears are bulls, they just want cheap bitcoin to stack. I suggest we dont give them it, because they dont deserve it for not supporting the price at a critical level. instead we should punish them with less bitcoin in the future for trying to be slick rick.

Note

Also this.

MikeMM

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.