I don't normally put too much store in videos made by some random bloke with no valid credentials banging on about Bitcoin price trends.
However I recently stumbled on one which confirms my own intuition about when Bitcoin is going to properly 'break out' as they say.
The video is below. You can tell it's a credible source because he's clearly some bloke in his early 40s who is an absolute master of clickbait titles and garish fonts......
The guy who's channel is called 'Crypto Capital Venture' simply points out what's happened to the Bitcoin price following the previous halvings, usingn boxes and lines.....
And that's basically around 20 weeks, ish, of consolidation, post- halving, and then a significant upside to new all time highs.
That means we are looking at late summer or early autumn for BTC to really start making a move.
Then it's alts.
Bitcoin may go down further before then, in which case it's time to accumulate a little more maybe if you can.
OFC this is just some random guy on Youtube who has self-taught himself to do TA, so I wouldn't believe a word....
Unless he confirms your own bias...!
What I like about this video is that it just confirms my own bias... I just have a feeling BTC isn't going to really do anything at all until Autumn, and then that'll probably drag everything else with it. It'll probably mean some people have a punt on some altcoins.
However past trends may not be the best predictor of future trends - we're in a very different landscape now compared to 2020.
Having said that I can't help but think that landscape is maybe more favourable to BTC....? What with more institutions starting to see it as a hedge against everything else...?
Time will tell, but in my own mind I'm not planning on doing any selling until MUCH later on in the year anyway, but if there is a price drop in the meantime, it's buying more, and if we get a nice run in Sept I'll probably hodl until it's well up into the $80K range and then maybe offload some.
In short, it's nice to have my intuition confirmed by some past trends and TA, my intuition is as valid as either of those for predicting the BTC price and setting a plan so there you go!
And none of this is financial advice, naturally, so move along!
Posted Using InLeo Alpha
