It looks like we’re putting in a lower high. That’s a little bit scary for the short term but I think we’ve all been sort of expecting a correction around the halving. ETF inflows were also back up today, so maybe the buying spree will continue. Fundamentals seem to be pointing up while technicals are pointing down. I’m leaning towards a revisit of $63K, but I’d rather be wrong.
Either way.. $63k is not that BIG of a deal.. wake me up if we start to get close to falling out of no man's land, which seems to be around $55k-ish...
In udder words, "no man's land" seems to have converted itself into the new "don't wake me up zone" .. so yeah, don't wake me up between $55k-ish and $82k-ish.. that is our new zone. .and yeah of course, it is a BIG one.. but it seems quite likely if we break out in either direction, it seems breaking upwards seems greater than breaking downward.
Sure, I understand that there are going to be a lot of guys and gals getting their panties all in a wadd in regards to unexplored price territories between $74k and $82k - but it still seems like a BIG SO WHAT? to this here cat at this here time, even though sure I am going to get excited just like many of the other HODLers - but at the same time, the big SO WHAT? has to do with the current "don't wake me up" range (formerly known as "no man's land") seeming to be a kind of given.. yawn, yawn..
Exactly.
"Don't wake me up zone." I like it.
7 has been reached. Lost its shine. My price alerts are set to $85k, $95k, ... and my laser-eyes hat gets worn at $105+ (6 digits). Why the 5s? Because getting to $80k only to revert to $78k or other boring $7-something-k value makes the alert pointless. Mid-range values mean the decade has likely been conquered.
We've endured years. What's a few weeks/months more?
#gtcttwwhodlnyknycccmflhbThat mostly makes sense, even though for me it still remains difficult to stop watching... even though it also seems difficult to get overly excited about movements within the current zone..
just moving through this don't wake me up zone, previously known as no man's land, seems to be taking longer than expected, but the thesis of no man's land still seems to underly it and would not get broken until at least some dip below $55k - and gosh even getting to $55k, might not break the underlying thesis of no man's land, either.. - and not that I am even saying that $55k is very likely at all, even though we know that a lot of shocking things can end up being possible and also end up playing out.. and maybe sometimes very extreme measures and bold plays are the ONLY ways to really get the weak hands to sell with passion, while at the same time, the downity runs a lot of risk.. the risk that the price does not stay down long enough for the downward manipulators to get many if any of their coins back.
I still am expecting some resistance somewhere prior to $100k, and I had been using $94k as my tentative thinking on the possibility of resistance, if any... and so yeah, maybe I am also working somewhat with the rule of 5s too... since maybe even getting above the mid-point might cause some inevitability of pushing through.. yet we might be getting ahead of ourselves, because we likely realize if the BTC price shot up to $80k in the coming week or two, we may well be just fine, but if it shot up to $94k in the next week or two, then that might be too far too fast..
so I hate to try to figure out too many legs at a time, even though I think that there should be a bit of a gravitation towards the $120k to $180k price range, merely to accommodate the seemingly new buyer types that seem to be entering through the BTC spot ETFs.... and yeah, I am not even saying that $120k to $180k would be stopping points.. but I am saying that based on current conditions, they seem to be largely points of reassessment..and we likely would be able to see if BTC's getting to that price range might help to free up enough BTC supply to satisfy the additional demand that currently seems to be coming into BTClandia...