A series of Herculean challenges for our boy Bitcoin to ride the hyperwaves
So, based on Tyler's comments from before we have a series of difficult challenges that lie in front of Bitcoin in order to achieve the price dream: a hyperwave!
What's a hyperwave?
Check this post: https://steemit.com/steem/@aggroed/bubbles-and-hyperwaves-what-about-steem
It's basically a subset of a bubble and has some pretty specific rules it follows.
Right now we're looking for 3 things to happen!
- We have to pierce the negative trend line from 20k BTC down
- We have to get up over the 11.1k btc line and stay there
- We likely have to stay above the Wave 3 line (it's possible we could go back to wave 2 line and still be ok, but it's on like Donky Kong if we do all these).
Cross one off the list
Tonight looking at the price chart for the first time since we topped 20k BTC we've pierced the upper trendline. It's unlikely this is going to hold for more than a few hours, but we cut into it. That's pretty promising that after a little consolidation we can do it again.
Still 2 more to go
We can cut into wave 3 line, but if a week long candlestick closes on the underside of it we're either delayed or off.
We've been banging up against the 11.1k resistance wall for a long while. If we can get up above it and stay there then we have a better chance to be riding the Hyperwaves!
i only came across hyperwaves yesterday. Interesting concept that needs more investigation!
Im no expert by any means but I have always thoughts the prices are based on manipulating human psychology. I suppose creating charts is a form of that and if enough math people follow the math you can use them to predict. But, I've never understood why, and if, the prices follow these models. It seems like a crap shoot to me.
You are half right.
But its not manipulation of human psychology, but understand and predict How humans Will react to certain events.
Prices dont follow Any model. Prices only change when people are buying or selling.
The models that exist around prices (technical analysis) are statistics models based on what happened on the past (what happened in the past when certain numbers matched).
It is kind of a crap shot, but its a probability crap shot.
Some models give you more probability of winning, other are bullshit.
The hard part is to understand wich is wich.
Before following a technical indicator signal (or a "technical analyst") you need to understand what the indicator mean.
Hey @aggroed, great post! I enjoyed your content. Keep up the good work! It's always nice to see good content here on Steemit! :)
Yea I see the conditional statement there "IF". That's not assuring at all and now my question is, are we ever gonna Cross the 11k line again? The Market seems pretty quiet now and no one is saying anything . No one is saying this or that is the problem . It seems like we have no foresight and it brothers me. I am not a crypto expert so I rely on the information I get from experts but now nobody is saying anything .
Honey badger don't care about the challenges :)
Here is for BTC to break above $12,000 :)
Could this cut through be related to the fact that today is February 28th, the great day for the China Crypto market rumour? Just thinking aloud!
Bitcoin has a larger support group than any other cryptocurrency, but icons like Warren Buffet just says one negative word and the price crashes. I believe that once the new people entering into bitcoin are properly introduced to #bitcoin and #cryptocurrency then we will see a lot less of price influence through speculative media out puts.
The whole thing of crypto is here to stay and is growing exponentially, the big problem is these fake pump and dump scam coins and people promoting scam sites to earn some extra cash/crypto and don't actually care about the people who end up losing.
It is up to each and every crypto trader or investor to make sure you take the time to properly educate the people they introduce into the system. It will have more stability in value and pumps and dumps will decrease.
Twitter is helping scammers!!! they are allowing scams to flourish and blaming them on crypto.
Yesterday i tried to post a comment telling people that a post to send crypto to an address pretending to be bitcoin core and supported by Charlie Lee..
This great information I appreciate your crytocurrency news thanks forsharing..
Brilliant work👍