18 replies to this topic

[CLK]

How is this a broken parabolic ? There have been many small parabolics that went much higher already, long term

support is 1000, break 200 and yes it's probably over.

 

Long term can't be charted right on linear charts.

 

 

[LMF]

The 52 week rate of change is what really matters on a parabolic......Bitcoin topped out at 2150 percent.  That's  no typo.  And it's never different......the nasdaq Y2K parabolic only made it to 130 percent. 

[CLK]

The 52 week rate of change is what really matters on a parabolic......Bitcoin topped out at 2150 percent.  That's  no typo.  And it's never different......the nasdaq Y2K parabolic only made it to 130 percent. 

 

What about all the other parabolics in past bitcoin runs, the first was 10,000%, the rest were 2000% and higher, all resulted in higher

prices after the correction. If people want to compare crypto to the stock market then bitcoin has another 10 years left in the secular bull

because that's what the stock market does, 20 year bull markets.

[NAV]

 

The 52 week rate of change is what really matters on a parabolic......Bitcoin topped out at 2150 percent.  That's  no typo.  And it's never different......the nasdaq Y2K parabolic only made it to 130 percent. 

 

What about all the other parabolics in past bitcoin runs, the first was 10,000%, the rest were 2000% and higher, all resulted in higher

prices after the correction. If people want to compare crypto to the stock market then bitcoin has another 10 years left in the secular bull

because that's what the stock market does, 20 year bull markets.

 

 

There's a huge difference between the previous parabolic runs in bitcoin prior to 2016 and the parabolic run in 2017-18. You need to understand mass psychology for that. The prior parabolic runs were engineered (or pumped) by a small coterie of early investors and/or small groups of bitcoin fanatics. It's like pumping up the penny stocks by certain operators.

 

What happened in 2017-18 caught the imagination of the entire world. Universal acceptance by masses accompanied by a parabolic run is what you call as a mania. Once that bubble bursts you will need decades to recover.

 

But then, if you are convinced this time is different, go ahead and buy it. Let us know how it goes.

[tsharp]

 

 

The 52 week rate of change is what really matters on a parabolic......Bitcoin topped out at 2150 percent.  That's  no typo.  And it's never different......the nasdaq Y2K parabolic only made it to 130 percent. 

 

What about all the other parabolics in past bitcoin runs, the first was 10,000%, the rest were 2000% and higher, all resulted in higher

prices after the correction. If people want to compare crypto to the stock market then bitcoin has another 10 years left in the secular bull

because that's what the stock market does, 20 year bull markets.

 

 

There's a huge difference between the previous parabolic runs in bitcoin prior to 2016 and the parabolic run in 2017-18. You need to understand mass psychology for that. The prior parabolic runs were engineered (or pumped) by a small coterie of early investors and/or small groups of bitcoin fanatics. It's like pumping up the penny stocks by certain operators.

 

What happened in 2017-18 caught the imagination of the entire world. Universal acceptance by masses accompanied by a parabolic run is what you call as a mania. Once that bubble bursts you will need decades to recover.

 

But then, if you are convinced this time is different, go ahead and buy it. Let us know how it goes.

 

 

Thanks, NAV... it wasn't worth arguing about for me... I appreciate your taking the time to explain this and I should have used the word BUBBLE in my earlier post.

[CLK]

It probably is over, I never get in on the ground floor of any market. I will try buying one or two between 1 and 3k

and see what happens. But, mass adoption never really started good, it started on Thanksgiving and topped Dec. 12th, that's not much time.
I see no opportunity in stocks for options right now, I have missed the bottom, any sell signal probably is a whipsaw and a real sell could appear at any time.

I prefer the volatility we had the first 5 months.

[CLK]

Went ahead and bought 1, setting $150 worth of stop. I think with sentiment this negative and

Renko on a buy, it's worth risking a small stop on this hourly impulse out of the consolidation.

[CLK]

Took profit, buy stop now 6745.

[CLK]

I think the bear market lows are in for Bitcoin, should be at ATH's in a couple months. Carrying 1.4 Bitcoin, up $900

on the day. A 7000 close on the day, about 7400 right now, will break long term resistance.