All of the shills with no real financial analytical skill are calling for an immediate pullback in crypto, because that will eventually be correct after such an enormous New Year's pump. There couldn't be a worse way to approach the market. If you follow these idiots, you will miss every pump. A better strategy is to set up your portfolio so that you profit from any movement in the market, or no movement at all.
We have all of the conditions we need to go straight to $50K in January. There is some possible FUD, but I think the upward momentum will overcome these things for a while. Here's why.
1. You're waiting on a pullback? We're getting pullbacks. The pumps are so hard that we don't notice them, but we are getting pullbacks. Common indicators like the RSI or MACD are resetting out of overbought conditions on daily and hourly charts. Weekly and monthly charts are a different thing, but we're still sitting nicely in the short term trend until we get a huge shock.
2. Bitcoin thrives in unrest. Civil unrest does not bother bitcoin. 2020 saw the official decoupling of the crypto market from the stock market, so we do what we want. And right now, bitcoin wants to go up. There's nothing that can stop it.
3. The Democrats won the entire US government. For those unfamiliar with US politics, Democrats are the liberal party. That means #moneyprintergobrrrrr. Bull bitcoin.
4. Traditional finance continues to shit on itself. The Federal Reserve and other central banks are only making the situation worse even as they think they are helping. Money printing, talk of a great "reset," and financial cronyism make bitcoin and crypto look like the best option for everyone.
5. Retail is coming. Retail "investors" are just now beginning to get back into the crypto market. With a much improved infrastructure, these people will be able to FOMO in at levels they never could before. Many of them will do just that with their stimulus checks, which are coming in 2020 the same way as they did in 2021.
I think if we move sideways (BTC $40k, ETH $1200) until the Chinese New Year, the selloff that occurs as a habit during that holiday may give us a huge correction. What I think will happen, however, is that we get to $50k before Chinese New Year. We will still sell off, but that selloff will not reach levels pre-New Year pump. We'll have pumped so high that even a 30-40% correction will only take us back to levels that are above the end of 2020.
Whatever you do, don't sell too early in a crypto bull run.
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Always remember:
Burgerswap Bridge will steal your crypto
Deus.Finance is led by a psychotic wannabe despot
AllianceBlock is a shit project
All algorithmic stablecoins (Basis Cash, Mithril, Empty Set Dollar) are a SCAM
Don’t get your bitcoin from PayPal
Trade on BSC, not Ethereum
Ivan on Tech, Elliotrades and Bitboy are complete liars, and
If you are always losing money trading crypto, read here.
