Guess the bottom

[Trader Curt]

So hindsight is your calling card.

Got it.

Bet a sell zone is ... where there is a lot of selling. Am I right, huh, huh?

Exactly, just as the technicals tell us where these zones are

 

[Handle123]

I think the guy holding the most Bitcoins hired actors and paid for as many spots he could for Super Bowl commercials so he could start dumping his position at a fine price.

 

[SunTrader]

I think the guy holding the most Bitcoins hired actors and paid for as many spots he could for Super Bowl commercials so he could start dumping his position at a fine price.

So he waited till price dropped more than $25k, then sold.

Doubt it.

 

[SunTrader]

Exactly, just as the technicals tell us where these zones are

Technicals look at the past where buying and selling took place and estimate probabilities they may take place again at those points. The only hindsight is the data used.

 

[nitrene]

36% believe it is going to below 1000? No way. Too much institutional money for it to go to $1K.

BTC will bottom when the ARKK stocks do. Probably at a 10-yr rate of 4-5%.

 

[SunTrader]

36% believe it is going to below 1000? No way. Too much institutional money for it to go to $1K.

BTC will bottom when the ARKK stocks do. Probably at a 10-yr rate of 4-5%.

30 year FreddieMac mortgage is 5.78% as of this past Thursday.

 

[nitrene]

The 10-yr is still only around 3%. My guess is the long term inflation rate is probably closer to 4-5% so that is probably the terminal rate for this cycle. I mean November 2020 was when the vaccines came out so 2 years after that the CPI should go down to like 4-5%.

 

[deaddog]

36% believe it is going to below 1000? No way. Too much institutional money for it to go to $1K.

BTC will bottom when the ARKK stocks do. Probably at a 10-yr rate of 4-5%.

What institutional money?

 

[Trader Curt]

Technicals look at the past where buying and selling took place and estimate probabilities they may take place again at those points. The only hindsight is the data used.

True, and those price points will more than likely be true in the future since many other traders will be looking at the same price point indicators that we do, making it a self fulfilling prophecy

 

[Overnight]

True, and those price points will more than likely be true in the future since many other traders will be looking at the same price point indicators that we do, making it a self fulfilling prophecy

Indeed, and it makes you wonder why support and resistance levels form there they do. If everyone agrees that a resistance level is at X, and everyone then sells at X, it truly becomes a self-fulfilling prophecy that X is the resistance.