Saturday Morning Thoughts
Hey Hey Everybody!! Happy weekend normally during the weekends the crypto markets are calmer then during the week but what happens over the weekend can give good insight to what will happen when the U.S. market opens on Monday morning. With so much constant buying pressure the price of BTC has been steadily going up. Besides all the degenerate leverage traders causing the crazy liquidation wicks(me being one of them), BTC is steadily going up and much faster then most thought including myself. If we go back to my previous blog “What is Max Pain?” you would already know that Max Pain was upward!! And where did we go? Up faster then anyone thought. If you were thinking about getting in, it left you in a very difficult spot. One where if you have been in crypto long enough it happens to everyone on some project trust me. Crypto has a lot of different aspects you need to be aware of and consider when you are looking to get in the market but also the more important part of getting out of the market. That is the major point of this blog the psychology of the crypto markets. People have scare tissue from the last cycle and it will show through the market at some point. This PTSD or scare tissue is everyone thinking BTC was going to 100K but instead it went to 15K. So only a slight difference right. It left a lot of people with a bad taste in there mouth I’m sure. But when BTC is at or passing ATH I think people will be much more cautious in the beginning like we have already seen but then the Euphoria sets in and then they forgot what has happened in the past and then boom we are back at 60K from 300K. Now I’m not saying 300K is my BTC prediction because I take a more conservative approach and hope to be surprised to the upside. But I do think BTC will be significantly higher then where we are at today. A prediction I will make is that BTC will hit 100K by the end of 2024. I also see the 100K mark as a major resistance take profit and sell zone. Going back to the PTSD once BTC hits the 100K mark be ready to buy the dip!
I hope everyone has a great weekend! Go touch some grass or something I know I need to!