Post
Topic
Board Speculation
Merits 3 from 2 users
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
dragonvslinux
on 03/03/2023, 20:57:10 UTC
⭐ Merited by Macadonian (2) ,JayJuanGee (1)
[edited out]
Those charts a big part of your life?

Do you really think they help you calculate what will happen next?

Or are they a way to cope because "the future is not ours to see Que Sera Sera"
https://www.youtube.com/watch?v=xZbKHDPPrrc
I am not even suggesting that I agree with dragonvslinus in a majority of cases (actually, I am not sure how much I agree with him, but I recall that I used to disagree with him a lot more when he used to be more bearish.. but either he has come around or I have come around.. I am not sure?), and sometimes, I do consider that he is putting too much weight into aspects of the predictive capabilities of his charts (and likely limitations in regards to what could happen) based on such charting techniques.

Yeh for clarity I was a lot more bearish once Bitcoin broken below $18K to $15.5K, after initially thinking the bottom was likely in with initial capitulation to $17.5K, as well as had little to no conviction that price would hold $15.5K, as instead thought $12K or $14K was looking more likely. Took me a couple of months to be convinced that it was possible after enough consolidation, then was bullish again with the break above around $19K. I'm never been one for being accurate on bear market bottoms to be honest, as all the technicals are always screaming bearish, I'm better on trend changes as the technicals are a lot more obvious. The irony being that during those 200-ish days a DCA average would have been around $19.5K, whereas $20K dip buying and $19K break-out got me the same price, with less effort, while being completely wrong.

Anyway, my theories or where price could next, whether back down to $20K or upto $30K shouldn't really be considered limitations just my perceived likelihoods. For sure we could double bottom at $15K (especially since we've seen a local double top), or otherwise continue onto $30K. It's purely my belief in the likelihoods/probabilities or these scenarios, which I find relatively low right now.  Probably the key point here is that I'm able to change my perception on bullish/bearish based on price change/action, unlike many others who are fixated on only one reality or the other, unable to change opinion etc.