$BTC to retest $66k, then more downside in July? π
@MacDyson_ explained why that could be the case during today's Market Analysis & Live Trading stream
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Chroma Weekly Schedule | 8 - 14 June ποΈ
Another week of live trading, market analysis, classes, and streams
Big hype for Sunday's @follis_ Secret Stream featuring a mystery guest
Who do you think it is? π
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Why the bottom for $BTC is not in
Bitcoin's Realised Price is the average cost basis for all holders
Currently it is 53.6k
Bitcoin has NEVER bottomed in a cycle without trading below the Realised Price
2011 β BTC bottomed at $2.1, about 58% below the Realised Price of $5
2015 β BTC bottomed at $152, about 49% below the Realised Price of $300
2018 β BTC bottomed at $3.2k, about 47% below the Realised Price of $6k
2022 β BTC bottomed at $15.4k about 34% below the Realised Price of $23.3k
58%, 49%, 47%, 34% β see a pattern forming?
My prediction for the next Bitcoin bottom is the Realised Price minus 20-30%
In other words β 37.5k-42.8k
Bookmark this because I know I'm right
Exactly
I call these accounts "cheerleaders" because everything the market does is spun into a bullish positive
β Market downside = big discount, buy the dip
β Market upside = higher, it's just getting started
β Sideways = consolidation, next leg up is loading
Eventually $BTC bounces and they start running victory laps and saying "I told you so"
Discounting the fact that anyone who listened to their advice from day 1 will have been liquidated many times over
Are altcoins a good buy right now? π
@jonzitrades broke down possible scenarios for $FET and other alts during today's Charting Mentorship stream
#ChromaTrading
Reality of sharing bearish takes on this app is that many will hate you for it
Because they want the market to go up all the time, and get angry at the idea that it won't
Permabulls will always get love because they sell hopium to the masses
Real ones know where the value lies
Not sure who needs to hear this
But liquidating your entire net worth multiple times is not "part of the process"
Or some kind of trading rite of passage
It's retarded & bad risk management
Guys telling you this are coping
Losses are inevitable, especially at the start
But that doesn't mean you need to lose 6 figs just to learn how to trade