This is an exciting/frightening situation.
You’ve DCA’d into Bitcoin and have a fat stack and now its mooning. What to do?
So lets keep it simple.
Here is the chart but not how you normally look at it.
You can llet your mind fill in the blank and what you see is what Bitcoin Maxis see. If you know what to do at $20,000 you should know what to do now and that ‘do’ is do nothing.
But what next? Bitcoin is a very Fractal market and that is because it has consistent drivers with the key being the ‘Halvning’ where supply is cut in half. That is this April and now every Bitcoin holder understands what it is and what it has and will do, the market is pre-empting it. 2017, the high was $20,000, in 2021 you can see the $40,000 level clearly and so $80,000 is the next projection.
Halvening = doubling price.
In 2021 the price went to $60,000. Was that an over shoot or was that x3 actually the next multiplier after the halving or Bitcoin’s new mintage rate? Is the ceiling $80,000 or $120,000?
So if you aren’t greedy you will bail at $80,000, but if you weren’t a huge risk taker you’d not be loaded up on cheap Bitcoin.
If you are greedy you see something like this.
You can scale that fractal how you like and I’d really stop at $120,000 and then only if you are really gung-ho. Alternatively for those traders with titanium nerves you can simply use this chart as a guide to ride the rally to the top and over the other side to try and not miss any final outrageous top which is often the terminus for such price action.
BUT remember its going to crash AGAIN. It just a matter of how high the next high is and how low the next low will be. Bitcoin disciples will howl at this sacrilegious statement, but Bitcoin has a 4 year cycle and when this loop of boom, bubble, bust ends so will the ascent of Bitcoin.
Personally I do not want to be around for the fall and I’ll be looking at $80,000 as a good time to tip toe out the exit. I will then put some profits to work buying some crazy tokens and play the final move with the ‘snap, crakle and pop’ tokens flaring up as this Crypto bull market heads over the event horizon.
Yet we all get more bullish the higher the price goes, when in fact we should be getting less bullish. Luckily I am bless with selling to early than selling to late and it is good to remember the Lord Rothschild quote that he got rich getting out of investments too early.
But if you are reading this you are a high risk speculator and there is nothing wrong with that. You bought at the bottom when everyone else was crying. So now is not the time to forget to get out when it looks so good and everyone is singing how Bitcoin is going to $1,000,000.
If you want to keep your winnings, you have got to leave the Casino. Those that stay will likely not.