Although I'm super bullish long term, e.g. Tim Draper bullish (250k), I'm patient. I don't expect a break above the 6k area in the next few months, it's more likely to test our fears with a strong pullback in the mid 4000's. Some may consider this conservative as we could make a double bottom in the 3000's, but there are too many people interested in BTC now: Way more than in the previous Halving cycle!
This means I'm not going to miss out on buying in the 4000-6000 dollar range. This will be an ideal entry zone for those who haven't got some in the 3000's. Imagine the day when we close weekly & monthly above 6k and never see these prices again. Don't wait! Sure, if we make new lows buy as much as you can, but it's probably not going to happen. Don't bet on it, and if you do, ladder in as it goes down with the position size getting larger the lower the price.
So my ranges here in this chart show the current price being almost exactly in the middle, where we could pop up 14%, or dump down 14%. I did not create this range for the purpose of this chart. This just happens to be the situation we're currently in. But the main point is we know we'll cross the higher levels at some point, but the lower levels are of interest now.
This means I'm not going to miss out on buying in the 4000-6000 dollar range. This will be an ideal entry zone for those who haven't got some in the 3000's. Imagine the day when we close weekly & monthly above 6k and never see these prices again. Don't wait! Sure, if we make new lows buy as much as you can, but it's probably not going to happen. Don't bet on it, and if you do, ladder in as it goes down with the position size getting larger the lower the price.
So my ranges here in this chart show the current price being almost exactly in the middle, where we could pop up 14%, or dump down 14%. I did not create this range for the purpose of this chart. This just happens to be the situation we're currently in. But the main point is we know we'll cross the higher levels at some point, but the lower levels are of interest now.
