BTCUSD by maikisch – technical analysis – 2023-01-12 21:21:58

I remember a conversation I had (completely unrelated to trading) in the early 90’s when the internet was considered new technology. This conversation was with an older gentleman who owned a franchised car dealership regarding the benefit of the internet for his business…or his perceived interest. I’m paraphrasing, but the comment was about…

… The Internet is only good for price comparisons … Nobody will ever buy cars online. People want to see the cars, ventilate the interior, and test drive the car. All the internet is hurting margins.

I remembered that conversation very recently because (and I don’t know why) but I believe many of Warren Buffet’s comments about Crypto. For someone who is clearly a smart guy, why not say something likeā€¦

… You know, I don’t understand cryptocurrency. It will probably be from generation to generation, but I am sure that over time our understanding of the potential benefits will become more realised. Who knows, we could be on to something big. I just don’t know enough about it to make an investment thesis.

Kind of like this car dealership. Now I want to be clear… he wasn’t that dirty guy. I own a huge Chevy franchise, BMW And Mazda All in one big shift. Maybe 1,000 cars in stock worth 30 million. This guy was also smart. But today (if he was alive) I’m sure he wouldn’t remember such a conversation. I’m sure the conversation today will be…

… I was one of the first to use the Internet in my business. I pioneered when few of my competitors understood how to use the Internet.

Translation: I am a genius, I always have been, and no one can say I have not been a visionary when it comes to the Internet. Back to Buffet… I have a feeling he won’t be around to adjust his cryptic comments. But I understand his comments, I went back in 1990 to talk to a car dealer. Ok enough moan…let’s talk shopping.

bitcoin

Disclaimer before getting into mine BTC analysis. Not everyone has a trading view BTC Price information. I do not know why. Therefore, my bike (eg Superbike) analysis poster may not be correct.

I’m 51% sure BTC Didn’t hit the bottom. Unlike other encryption schemes Solana & ADA which have complete patterns in the downside are discernible. BTC No. My main problem with one BTC The bottom is the pattern, which reached the low of November 21 at $15,460 3 wave b wave Now, if I go down to the microfractals, I can make a weak case for one of them ends diagonally . After completing one ends diagonally , the price usually returns to the point of origin. It happened. So when I say I’m 51% and not 50/50, it’s mainly due to patterns. For me, styles take precedence over all else. Now, for me to change my song on BTC Below, I need the price to break the previous top area which was the wave 4 top on 8/14/22 at $25,214.57. It can’t be a simple breakout either, I want the price to go above $26,000 so from now on we are waiting for clues to see if the price will give us something definite that its intentions are to enter a new bullish phase. In the absence of these confirming clues, we can drop to the next gain at $14,577. Now it’s normal for you to read this and say he’s guessing… he really has no idea… fair enough. here before BTC analysis to consider.

after 1

after 2

conclude b BTC Saying that we are looking for the price to reach $26,000 to confirm the bottom of SUPER CYCLE. If we fail to get there, $14,577 looks like the next stop for BTC .

Ethereum

unlike bitcoin I have a nice clean bottom pattern and it looks like there is a 1-2 in place and now we are splitting into wave 3.

When this wave 3 ends, in my opinion, in 2024, we could be at new highs. It’s funny when I look at ETH that the fall is strengthening it BTC It may have bottomed out.

Time will tell for cryptocurrency…but I can’t speak for you (the reader)…but I feel the prices in the coming years will more reflect the higher understanding of the value that crypto brings to society. Is it analog with the internet?

we will see.

best of all,

Chris

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