![]() ![]() Talking about it is informative and entertaining, but everyone needs to make their own decisions about when and if to invest in the ultra risky often portfolio killing crypto.Further contextualizing their claim, Rekt provides a chart detailing BTC breaking out of a falling wedge pattern and then retesting the upper boundary of the wedge to confirm the pattern. Has nothing to do with seeing the future, has to do with seeing patterns emerge and understanding that it is one way things could go and have gone before. When I made the image below I was showing how Bitcoin looked like a bunch of volcanos that were going to “kill your alt portfolio”… that ended up being true. If this pattern fails, it is time to reassess. NOTE: If what looked like a bunch of Volcanos erupting ends up being a giant falling wedge, that is good for cryptocurrency holders and buyers. You’ll notice those patterns tend to result in a run eventually… but like, often after more downside. ![]() There really isn’t much more to say, simply look at the graphic above for an illustration of what I’m talking about then go look at charts like you are playing “Where’s Satoshi’s giant falling wedges” as you scour crypto history. The point of this page isn’t to say “buy here” or “sell here,” it is to say “dang dude, Bitcoin looks like a giant falling wedge to me, would be cool if it works out that way.” Ultimately any pattern could play out or not (its about probabilities, not certainties). So, cool to know, but lots of room to go wrong here. ![]() Meanwhile, even if it does hold, the trendline is around $5.5k, the last bottom is at $5.75k, and BTC has tended to bottom around $6k in 2018 (all those numbers are lower than the price while I write this)… Plus, BTC can take off without alts, and if crypto dies for some reason, then it could be that no coins resolve the pattern in a favorable way (historically both BTC AND ETH would need to rally for this to resolve into a run for alts). We could easily be in for 50% losses assuming the bottom trendline of the wedge doesn’t hold and the pattern breaks down (as the pattern can break down, then we can adjust the bottom trend line, and still show the same pattern… so we could lose another 50% and still end up with a falling wedge at the end of the day for example).
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