@DrProfitCrypto This is a very interesting group. Many of Doc's predictions seem very unbelievable at first, because they often seem contrary to the market trends. In these cases, it is not so easy to follow Doc's recommendations ... But if you follow, you win!
A study was done on 77,000 accounts at a large discount broker from 1990 to 1996. The findings revealed:
1. Investors are more likely to allow a stock to reach a large loss than they are to allow a stock to attain a large gain; they hold losers too long and sell winners too quickly.
2. The probability of buying additional shares is greater for shares that have lost value than it is for shares that have gained value. Investors may readily double down their bets when stocks decline in value.
3. Investors are more likely to take a small gain than a small loss.
The results would be no different 50 years ago, or 50 years from now.
People acting like there was no way to foresee this #BTC dominance rally and bleeding of #ALTs back to BTC as BTC puts in new highs.
This is EXACTLY what happens every cycle!
Bitcoin Price Update
1. Backtest of $65,000 level held and we moved higher. Want to see price hold above Previous Month High now for continuation higher.
2. Most traders were scared to buy the dip. It happens, now don't fomo at $68,000 levels. If we get larger break down to Monthly Open of $63-64,000, I will bid that with size.
3. H6 55EMA and high volume pocket around $66,000 is a must hold or I will get out of longs.
4. H6 200 EMA and Range POC is confluence for a larger dip as discussed in point 2.
5. Immediate resistance ahead, time to be careful.
#BTC
Bitcoin is still retesting the Channel Top (black) as support on the Daily timeframe
Yes, Bitcoin downside wicked below briefly but continued candle-closes above the Channel Top mean that price is trying to solidify a sustainable support here
$BTC #Crypto#Bitcoin
In 2016, #ETH had big drops in April, August, and December.
In 2024, #ETH has had big drops in April and August.
So decent chance it plays out in a similar fashion, with one more drop by #ETH before EOY, with the low in December.
#BTC
On the cusp of confirming a breakout beyond the multi-month Channel Top resistance
A Weekly Close just like this would be bullish
$BTC #Crypto#Bitcoin