Bitcoin is approaching its first crucial support level ($64,000 - $62,000) after a long-awaited breakout. My analysis indicates that if Bitcoin holds this first support level, it will make a new ATH before the new year; otherwise, the next support level is at the $45,000-$48,000 range.
I will wait for the first crucial support level and buy with a tight stop loss at $61,000. If my stop loss gets triggered, I will sell with another tight stop loss at $62,000. I have mapped the time taken by each potential breakout wave, and it seems to take longer each time, so IMO, if Bitcoin fails to hold at the first crucial support and falls back into a downward channel, it will take even more time to break out.
Let me know your thoughts on my speculation.
Right now images are not available, but $45k to $48k sounds pretty damned low for a second support level, especially since we have barely even broken below no man's land for nearly 9 months. I have difficulties considering even sub $50k to even be likely beyond a possible spike dip.. so maybe like some kind of a black swan event..
And then your question of the BTC price getting stuck (presumptively below $55k, which is the bottom of no man's land) sounds more like hopium rather than reality in regards to considering where we are at in the cycle.. and yeah a beach ball can be held by a dolphin (or a whale?) under the water for so long.
Believe what you like though, and I hope your various downity dip scenarios have not caused you to fail/refuse to sufficiently/adequately prepare for up.
Trading bitcoin is a sign of lesser intellect.
I am always eager to learn from anyone I can, especially from reputable and wise members like you.
Please explain to me (and millions of other traders) the purpose of 'Bitcoin price movement tracking & discussion' in trading (whether long-term or short-term). Even if you consider yourself a holder, you are essentially a long-term trader, and I see no reason to ignore the advantages that technical analysis could offer to make your long-term holdings more profitable.
You seem to be demonstrating that sometimes traders fail and/or refuse to understand and appreciate what is actually investing, so they frame the issue as if everyone is a trader.
Your mindset seems to be a bit wrong.. and also if you consider that an investor need not trade at all, and an investor might just accumulate bitcoin until he has enough or more than enough, and then at that time, there could be some justification for selling some of the bitcoin just to live off of.
The trader is too busy fucking around getting in and out of his bitcoin investment, so then he is actually failing/refusing to actually understand what bitcoin is and he only sees his bitcoin as a way to increase his dollars.
Sure the long term investor will automatically still end up increasing his dollars with his bitcoin likely going up in value with the passage of time, yet he still may not be giving too many shits about whether he is profitable or not, just concerned about if he has enough so that he can start to cash some of them out whether based on prices or based on time...
If you consider yourself a Bitcoin purist who will never exchange your Bitcoin for any services or other currencies, I would argue that this approach is more restrictive than that of day traders using 100x leverage.
You seem to be presenting a false dilemma .. or might we call it a strawman argument. There might not be any need to sell any BTC if there are other avenues of wealth.. or if the bitcoin can be used as collateral so that there is always income or cash that can be used to live on.. .
You seem to fail to recognize and appreciate that once you get enough or more than enough bitcoin then your options may likely open up quite a bit, whether selling some bitcoin periodically or using them for collateral or just having them int he background it there are other sources of income and cashflow to support your standard of living... and sure we might have ONLY bitcoin and cash, but we might end up having an array of various other assets, and some of those other assets might be leveraged on the bitcoin or hedged on the bitcoin, yet if they are quite excessive in order of providing enough income then there might not be any urgency to do anything about the bitcoin, except maybe move it around once in a while....
or maybe you need an example?.. .if a guy might have had accumulated 500 bitcoin in the past 12 or so years, and perhaps 90% were accumulated in the first few years of his investment, so maybe his average cost per BTC might be around $300... so he had invested around $150k in total.. so then even now if he might have to shave off a bitcoin here and there, it is going to take a while to deplete his stash, so he might not even care that much if he sells some of his BTC.. and maybe his living standard is around $100k per year or so... or if he might move some of his coins around in various places from time to time and use some of them as collateral.... so the longer that he is in bitcoin then the more his value of his coin goes up so long as he is mostly hanging onto them. So even now the
200-WMA value of those coins are about $20 million and the spot price value is around $34 million.. but if he is largely living off $100k per year, maybe he could increase his standard of living and he still is likely going to be fine whether he sells some of his coins from time to time or if he uses them in other ways.
The bitcoinhole shows various hardware wallets and other software and hardware.. but does not rate them.
Thanks for the list.
I think I would go with Passport since it meets most of my requirements
and also at the top.
Checked it out and found out that the shipping fee increases as the number ordered increases and it's not arithmetically.
Am I doing something wrong?
Of course any of the wallets at the top of the ratings would be good, and they have differing tradeoffs in terms of user interface and how well they might be respected in bitcoin circles, yet I don't claim to be any kind of an expert..
Personally, I am also interested in the Start9 server that has some links in those comparison pages too, yet it can be complicated when any of us might be choosing products and then figuring out ways to set them up so that we feel that we are getting some use out of them, perhaps at a price that we also might consider to be reasonable considering that we might be choosing to store (secure) and/or use for transacting (and transfering) decent sizes of cornz.
Always be learning, and the space is not exactly static, either.
