BitSavage

todays snapshot .

$BTC HTF long-post analysis. You may think you've missed out, you may think you've been left behind. The reality is quite different. When we're truly trending we're going to be cruising above these waves. This is all a warmup to the potential that we have. Right now we're trading above that huge level of $31,000 and we're right at the top of the wave. You'll notice that we've tried to breakout before and failed. Let's keep things simple here and introduce some facts: We're at a point of resistance (we know this from a daily chart and not just this renko HTF picture) We keep tapping that upside but are failing to break it currently. We know that historically BTC likes to correct between 20 - 25% on bull market pullbacks. We've seen this on 4 occasions during the last run. Correcting from here would be around 16% back to $31,000. But, correcting from slightly higher, around $41,000 would bring us to a 25% correction point at $31,000. This isn't really a call, it's just presenting those parameters that historically have been represented as good evidence for bull market pullbacks. I know a lot of people have called for those $40k's and right now BTC isn't letting up at knocking at this resistance point (despite myself thinking it would.) What can we take from this: 1. $31,000 is crucial, it could be the ultimate buying point from a whole range of charts and timeframes. 2. $31,000 is not unachievable, although there will be a feeling of invincibility in the market, that level is not within realms that we would deem unreachable. 2a. I can assure you that when/if BTC trades into $40,000+ the thought of going back to $31,000 will be laughable (ETF, bankers, wall st, bull run, new highs, etc) - we've been there and seen it all before. 3. Although historically this has been significant, who knows what the outcome is this time around. 4. The fun hasn't even really started if we flip the wave. The next few weeks and maybe months will drive many changes in emotion and analysis. Try to keep things simple. Whatever the market throws at us, rally, rejection, news, remember how important $31k is. And that's really what this post is about, it's to show you that things look very good and to emphasize what I believe would be the most significant place and set of conditions to buy BTC to set you up for the next X months of uptrend. Despite all of this analysis, nice confluence with pullback %s and significant levels, you have to be prepared to act, not just to trust and have blind faith in a level this purple frog mentioned a lot. Maybe it's achieved, maybe it's not, but I sure as hell know what I'll be doing if it is. Remember that things are potentially still just warming up. And most importantly remember to not fuck things up.