[edited out]
Oh JJG... you and your long-ass responses. I don't really think I can address your all points, but I'll just let you know why I was pointing out 5 consecutive red weeks.** It clearly shows that BTC is overdue for a relief rally at this point of the bear market (and it probably doesn't have anything to do with many of the people in this thread as y'all are actually in this thing for long-term). Moreover, pretty much the same goes for US100, SPX, etc. We know what happened after the end of the last Fed meeting (everything pumped), and there is a good chance that same happens again on Tuesday/Wednesday after they raise rates by 50 bps.
And yeah, I still don't hold any BTC. I'm waiting for 200 WMA touch.
P.S. I wish I could've just replied this meme, but it didn't look very appropriate for an old fren lmao
Well, at least you provided a bit of a basic explanation that helps me to at least appreciate that you are not necessarily considering 5 red candles as short-term bearish, which was my first impression of what I was speculating your vague Socratic method wannabe puzzle-piece to have been implying.
Many of us longer term bitcoiners are going to appreciate that overall BTC is not very correlated to the macro-markets in part due to it still being in an early adoption phase, but still short to medium term there can end up being a quite a bit of short-term correlation - that may well not even end up playing out in exact ways as in the past - but also you seem to be implying that the Fed and other powers that be have a bit more control over the market situation than they likely do.. and I am not even suggesting that they might not be able to keep the whole precarious shitty fiat balls in the air for many more years (even 10 or more) - even though it has been playing out quite weirdly in recent times with all the other non-dollar fiats seeming to fail.. and the dollar less badly - so the dollar ends up continuing to serve as the least of the worst and thereby also able to continue to have value gravitate into it from the other failing fiats and thereby eek benefits out of such reliance that others have on some kind of a default (least bad of the bad) systems.
Surely, it is nice that bitcoin is still building as a parallel system that is going to continue to gravitate value into it.. and it does seem quite weird that anyone who actually has some clues about bitcoin (which you seem to do) really believes that maintaining anything even close to zero in bitcoin is actually prudent. For sure, in recent times, I have been suggesting an entry-level of 1-25% allocation into bitcoin, but of course there is some devil in the details of how to get there and also where you should feel yourself to be within that range. Another angle is the extent to which you might well be reallocating from time to time based on fluctuations in the market that might take yourself out of the zone.
Personally, I would think that any "good ole buddy" dweeb
(or would it be adorable dweeb?) like ur lil selfie who at least knows about bitcoin would end up at least maintaining some minimum level of BTC holdings even if you are skeptical overall about the asset (or short to medium term cycles) - you are at least seemingly sufficiently informed about a variety of bitcoin basics in enough of a way to at least minimally engage on the topic in a thread like this. So, perhaps you are failing less in terms of your attempting to act upon your bitcoin awareness, but you cannot get out of your seemingly flawed tactic of fucking around with all or nothing plays rather than a kind of longer term incrementalism..
So surely overall, I have to question your judgement, including your suggestion that you are failing refusing to read my posts - which may well be another part of your problem in terms of ongoing inabilities and unwillingness to engage with certain angles of information that likely are for your own good.. and not even suggesting that I am not fallible in a variety of presentation and/or substantive ways.
Hey, I better stop because if I keep listing what appears to be your many various problems (and faults as identified by me), I might end up having to publish a multi-volume treatise piece on the considerably lengthy topic at a later date.. and we wouldn't want that, right?
**Edit: As I type this post/edit I notice that we have ONLY about 6 more hours (midnight - 00:00 hours UTC) for this weekly candle to close (which would be the 5th one in a row if it ends up being red), so surely there is a quite a BIG distance to get it into the green territory .. it has to get above $39,496... so jeez. .more than $1,200 at the time of my typing.. so presuming it to end up red might be the greater odds, at the moment.