As time goes on and the 'youtubers' tell us all we are going to the moon ....there might just be a short-term stall to this🤔. Yep 'buy the dip' but where really is the time to buy? That old adage " Buy the dip of the dipperty dip" always come to mind😂.
Yup, numerous factors, miner capitulation, halving past so why, fed decisions and US data, wars, sell offs by the German government, Mt. Gox repayments, inflows/outflows ETF's, spot and exchanges and so on. As the Joe blow small time trader, what do you make of all these wonderful stories? Who do you believe?
BTW: Don't believe me for one second ! I'll just throw a weekly chart out there and you decide its validity of a 'possible scenario'. Nope, it's not a 'we're going to the moon' clickbait title as per the majority of the wonderous Youtubers ...it's a 'possibility' to keep in mind.🙏🏼
I still have faith in crypto and I still feel we are going in the right direction. However, don't get carried away with all these lofty predictions and stay a bit more grounded in your expectations. If in crypto you just 'Hodl' then don't expect to make wild riches as many would lead you to believe ...if you can make 100% in 2 years on your investment by doing nothing other than 'Hodling' then be super super happy; beyond that is generally 'pie in the sky' as the ship has sailed in a market that is now more than a decade old...yes, still immature but reasonably established. Hey, where else can you double your $$$ in say a year or two? Still a good move eh.😍
Oh, as to the chart above: Double top, offset @$1700, thus 'shit hits the fan' @$37,300, which also aligns nicely back to Nov 2023. However, I still think that $51K can hold and we may have a visit to that, maybe this week? ..below that, then $44,200 would be a 'True McDonalds' and a huge and clear McDonalds back to $37,300 (thereabouts) by mid-August. (Visualise it yourself) 😎
Keeping this post short, but keeping in mind also: Since say Feb 27th/28th BTC has broke the psychological line of $60K every single month, yup March, April, May, June, and now July, and is toying with the 50K line as we speak. I won't bung anymore charts up and DYOR (as opposed to some on Youtube/RTB say otherwise)
Chug along and have fun kids, don't put in more than you can lose, don't sell the house/wife/children and enjoy😍. As per: Not Fin advice blah blah blah. 😍
Cheers, CryptoGlyn 🦆