Perception?

Which one do you see? An old woman, a young woman or both?

What about the Bitcoin’s prospects of continuing higher? Higher, lower or unchanged?

If you accept Teek’s thesis, Bitcoin is destined for USD 100K with ease.

And, tradingview believes we are seeing a continuation Head and Shoulders.

What do you think?

Up, down or rally around? This is not an academic question if you have bought Bitcoin or are thinking about it. It doesn’t matter that you may be thinking of buying one of its substitutes, be brave! Tell me, what do you think: ‘up, down or rally around?

Below is a chart for Bitcoin since inception. What do you think now?

What point am I making?

In an uncertain environment, we can’t control an outcome. All we can do is, give it our best guess, and control the risk. That’s why loss is part of the cost of doing business. You want to be a successful, trader? Then accept that you can’t win without losing – period, no ‘ifs’, no ‘buts’.

Where do I think Bitcoin will do? Sure next Tuesday, same time, same place. I’ll give you an answer then.

 

 

4 thoughts on “Perception?”

  1. Hi Ray, I still don’t fully understand Bitcoin.
    I read things like, decentralized banking, blockchain etc .
    How could you buy goods with it, if the exchange rate is not stable.?
    And Bitcoin mining, what is that? and talk of big electricity bills in mining.
    Other crypto ‘s are starting to appear.
    When they can buy a cold beer at the pub, maybe then i may understand. lol
    cheers Baz

    1. Hi Baz

      Thanks for dropping by. The blockchain technology, in time, will probably replace cash. But, not as this moment.

      Let’s hope they’ll let us by a beer soon

  2. The first chart looks like a zone to me(12500 to 17000). I would do the range play. Long at the range bottom. Sell 3/4 at range top. Let the remaining to test and break the channel. Stop lost under 12k. Shall not catch the falling knife. Gotta wait for a bounce then enter.

    Love your saying:
    Give our best guess and control the risk. Accept the loss

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