ALT SEASON begins...

SilverSale said:
While everyone is mega bearish (10 on the fear/greed index), I'm going to call for a move back up to USD $50K-$60K BTC in the near future.

Not financial advice.
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If it can break, retest, and hold 35k usd then possible
Retest but fail 35k then 20-25k possible
Or could just be sideways 30-35 for a while to unwind some of the pain
Point being I don’t believe too many things are binary
 
Comments by a few YouTuber's, in the last 24 hours....

Ben Cowan "you know what, we're in a bear market".
blockchain backer "I cant see it moving to the upside"
crypto crew university "get ready for a mega crash"
 
For those following XRP, it appears to have hit the bottom of a descending wedge.

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I haven't seen anyone post anything similar to this - either on this site, or elsewhere - this is my own work.
My preferred BTC topping structure, which (so far) has played out almost identical to the 2017 top. The majority are blind to it, due to the longer timeframe.
As always, not investment advice - it can play out differently.

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Okay!

This is my guess work having followed a number of youtubers that are pretty switched on:

It's a Weekly Chart: Heikin Ashi - (All Pricing in $AUD)

- Red vertical line is the start of 2023.
- Blue vertical line is the halving to take place around May 2024.
- Green rectangle is my Buy-zone. $19.8k - $29.3k
- Yellow Line is how I think the price will pan out over the next 8mths.

1. A relief Rally to $50k end of June early July
2. Beginning of a Decline in August through September. (Alts will get smashed - BTC Dominance will continue to increase)
3. Fed will panic in September and halt the interest rate rises going into Biden's mid-term office.
4. QE will resume October. BTC will start its long journey North.
5. Most Alts will continue to Bleed:mad: against BTC.
6. Am expecting for a massive move of BTC early 2023-2024.
7. Will switch some BTC to Alts towards the end of the Rally.
8. Zelensky will win the Nobel Peace Prize:rolleyes::rolleyes: NATO will enter the Eurovision Song Contest and WIN!!!:p:p:p
upload_2022-6-11_17-34-31.png

3 that I follow:

Bob Loukas - Very Long term
Ben Cowen - Long Term
Jason Pizzino - Short to Medium term Swing trader

Each offering a different perspective.

Anyway, that's my plan.
 
markcoinoz said:
3. Fed will panic in September and halt the interest rate rises going into Biden's mid-term office.
4. QE will resume October. BTC will start its long journey North.
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They were my thoughts when the world's central banks began their path of winding back their accommodative monetary policies because that would be the sensible thing to do. But after listening to the Joseph Wang interview @Leo posted elsewhere I'm not so sure.

The Monetarists only understand bond sales and interest rates and are 100% hung up on inflation when it comes to the decisions they make. Wang argued along the line that The Fed will need to keep interest rates at 0.5% above the rate of inflation. What's that? 8.5%? That's obviously crazy as it would inflict huge damage upon the economy and cause widespread suffering. But it's the only tool they understand - and as I've argued (and others) the crisis is not a monetary policy crisis, it's fiscal policy crisis in the making for at least the last 15 years (balance sheet recession) compounded by the supply chain issues brought on by Covid, the war and the last few year's weather events in Australia.

So what does that mean for us? There's 2 strategies I see we could play. The first is to sell all assets and be 100% in cash waiting for the bottom of the market and riding out Wang's "worse is yet to come", I think some members here like @heartastack may be utilising that strategy (or at least leaning more toward it) or DCA in lower with maybe ensuring we have a cash reserve for the next black/grey swan events. Which will come.

I'd like to probably do plan 1. because I've severely miscalculated the level of incompetence of our central bankers and the missed opportunity the last government had to boost the economy but I think I'm leaning toward plan 2. because I could be dumb as dog shit and I hold the view that the only bottom I can pick is my own. Who knows? I may wake up one morning and decide to sell everything I've got friends who did that toward the end of last year and they are probably feeling good about what they did.
 
My preferred Bitcoin topping structure is still in play at this stage... fingers crossed my US$50K-$60K target gets hit, with associated alt run-up.
Monster short squeeze IF this scenario plays out. :)


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SilverSale said:
My preferred Bitcoin topping structure is still in play at this stage... fingers crossed my US$50K-$60K target gets hit, with associated alt run-up.
Monster short squeeze IF this scenario plays out. :)


View attachment 70536
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pass me the mask wen you done

r3DwnIX.png
 
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