From the way of the market performance this days, we may likely see the market getting to $80,000 or more at anytime from now, since in the couple of days now, we have already been seeing the market pumping and also dumping in the same way, which is a sign that there is more high volatility coming in soon as the sentiment against the rise or fall is continuously felt, we may not be accurate in predicting the direction base on the market performance now, on whether we are heading towards the bullish or bearish trend.
Noted friend and I respect that, but it seems you are still not deeply rooted in chart reading, especially if you are not considering the long-term disposition. I've seen a friend arguing heavily with me about Bitcoin but in all of our arguments, I always win 100%. Later I asked him what timeframes he was using, and he said 15m timeframe. I shouted because I felt my time was wasted even arguing with him in the first place. Such like him can never get the main trend of the market but the lousy noise of the unbalanced market waves.A true chart reade will always consider the higher timeframes above anything, while a better one will consider both the small and large timeframes to come to a reasonable conclusion by averaging their reading. If the latter is to be considered, you would see that there is nothing undecisive with the market, and presently, the bias is still bullish. Now, if Bitcoin can hold above the 1D TrendMagic line at $64,185 and the 1W level at $62,120 of the same S/R strategy, it will continue buying. But it may only retrace at times, just as we witnessed yesterday.
If someone just "says" what they think, then that's not enough, anyone can say anything, I can say that bitcoin will be 1 dollar tomorrow, or 1 million dollars, just because I said so, doesn't make it possible or even logical. If you want me to believe you, show me some chart, some indicator, any type of data, that backs your claim ,so that I would consider if what you are saying is possible or not.
If you provide me with something like that, then I would start to believe you, and that would not be all that bad, it can be done. I believe that we are going to face a lot of trouble if we are not careful, and because of that I think it needs to be done carefully as well, not really argued over internet. Those people, like your friend who used 15 minute charts, will not provide you any data that would make sense, and if they did, you would have seen the interval, and would understand why they are wrong, so always ask for data to back their claim.
