ridethepig | BTC Long-Term Macro Chart
Updated
I am certain that in the coming years, the lack of confidence in the public sector is going to continue falling and stopping this train is extraordinarily difficult. You should also note that the position in BTC (which is itching to move higher) is now operating with a successful halving and in a world where Keynsian economics seeks salvation.
In this game, the simple notion of a technical breakout on the log-chart will be enough to trigger the capitulation from speculative sellers. Despite that bears are lost, nature has a tendency to even things out from time to time, and we can expect that to be the same flow here. With the direction settled as we assume BTC is a hedge against governments, the flows are going to create energy and freedom to manoeuvre higher.
This 3rd wave would not have been possible if the Strong 4235 Support was taken (see red dashed line above), it was the original breakup of the previous wave 3. These setups should simply always be met with the benefit of the doubt as a profitable strategy over time, in this case we are right back to the middle of the battlefield, this time with sellers exhausted and running for the hills.
Buyers are in full control and we can expect a leg towards the 12,800 , 15,600 and finally 21,000 targets in the 3rd wave. We are talking about an extended swing. Highly recommend digging into the archives for those wanting to understand the different phases. As this fells straight into the pocket buy zone from before:
The entire crypto board is forming a base, and momentum already appears to be pushing through (from the sizings and just how quickly the dips are bought). All eyes on BTC, here actively adding positions in LTC, ETH, EOS and a few other names. The log-chart breaking out here will be a game changer and give us the appropriate advantage:
In this game, the simple notion of a technical breakout on the log-chart will be enough to trigger the capitulation from speculative sellers. Despite that bears are lost, nature has a tendency to even things out from time to time, and we can expect that to be the same flow here. With the direction settled as we assume BTC is a hedge against governments, the flows are going to create energy and freedom to manoeuvre higher.
This 3rd wave would not have been possible if the Strong 4235 Support was taken (see red dashed line above), it was the original breakup of the previous wave 3. These setups should simply always be met with the benefit of the doubt as a profitable strategy over time, in this case we are right back to the middle of the battlefield, this time with sellers exhausted and running for the hills.
Buyers are in full control and we can expect a leg towards the 12,800 , 15,600 and finally 21,000 targets in the 3rd wave. We are talking about an extended swing. Highly recommend digging into the archives for those wanting to understand the different phases. As this fells straight into the pocket buy zone from before:
The entire crypto board is forming a base, and momentum already appears to be pushing through (from the sizings and just how quickly the dips are bought). All eyes on BTC, here actively adding positions in LTC, ETH, EOS and a few other names. The log-chart breaking out here will be a game changer and give us the appropriate advantage:
Note
A quick monthly chart update here:
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