Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
My question is can you or anyone else give me their best argument as to why the bottom is in or not.
From my perspective, your question is
Bitcoin is a new emerging asset class, in the initial throes of price discovery. To attempt to time this market is madness. Price goes up; price goes down - you can't explain that. All we really know is:
1) whether or not the world knows it or not, it needs a permissionless uncensorable form of money free from the whims of central planners; and
2) a vanishingly small percentage of the world has yet awaken to postulate 1).
From these two, we can conclude that the long term trend is up, and will remain so until such time that the world at large is onboard.
Ignore the noise. Buy today all you can conceivably afford to lose. Hodl on.
Pit pat piffy wing wang wong.
Bear waxes bullish.. Set defcon3. Reluctantly issues +1 WOsMerit..
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bitcoin
The market still feels at odds to me. The sentiment is high now but the trend is still downwards. This has led to a shallow channel over the last couple of days.
On the hourly it appears we will continue to trade downwards and sideways.
1h
Thing's are not so clear further out. Its hard to judge if the cloud has already taken into account the bart sell off we just experienced. My gut is telling me that longs have not been squeezed enough nor has the bottom been tested thoroughly enough yet. Do your own research.
3h
#stronghands'19