A case for $10,000 BTC - why it’s not as unlikely as you think
orm case for the reasoning behind Bitcoin hitting $10,000 and why it’s not as unrealistic as you may think.
1. 10,000 marks the bottom of a bearish trend line I have marked on the linked chart
2. 10,000 corresponds with a bullish retest of a HTF chart pattern marked on chart
3. DXY looks ready to collapse - and with a falling US dollar over the next 0.5-1 year, this means an extended bull market
4. Below bitcoins current price of 61,540 is a series of larger unrecovered gaps in the chart - these gaps are filled with long position stop losses
5. These open stop loss gaps contain a chain reaction of sell orders that fill when price contacts the sell price - unlike limit sells. This means there is a non stop series of orders chained together for sell triggers - which can set off a chain reaction
6. Due to point 6 - this 10,000 price would be tapped very very quickly via automatic chain reaction of stop loss orders. Likely following would be a return to a higher price.
7. Following the above 2 points - Bitcoin won’t be situated long at this low price. This is a natural reaction and consequence of a futures dominated market - the stop losses trigger creating a squeeze downward, tapping that low level and returning before anyone bats an eye
8. Bitcoin isn’t linked to real world metrics and no black swan event is required for this - again this is a natural phenomenon created by leveraged stop loss orders triggering and creating a chain reaction
9. Prior to an extended bull run - the for profit exchanges effectively liquidate all orders and wipe long positions prior to a long push uphill.
1. 10,000 marks the bottom of a bearish trend line I have marked on the linked chart
2. 10,000 corresponds with a bullish retest of a HTF chart pattern marked on chart
3. DXY looks ready to collapse - and with a falling US dollar over the next 0.5-1 year, this means an extended bull market
4. Below bitcoins current price of 61,540 is a series of larger unrecovered gaps in the chart - these gaps are filled with long position stop losses
5. These open stop loss gaps contain a chain reaction of sell orders that fill when price contacts the sell price - unlike limit sells. This means there is a non stop series of orders chained together for sell triggers - which can set off a chain reaction
6. Due to point 6 - this 10,000 price would be tapped very very quickly via automatic chain reaction of stop loss orders. Likely following would be a return to a higher price.
7. Following the above 2 points - Bitcoin won’t be situated long at this low price. This is a natural reaction and consequence of a futures dominated market - the stop losses trigger creating a squeeze downward, tapping that low level and returning before anyone bats an eye
8. Bitcoin isn’t linked to real world metrics and no black swan event is required for this - again this is a natural phenomenon created by leveraged stop loss orders triggering and creating a chain reaction
9. Prior to an extended bull run - the for profit exchanges effectively liquidate all orders and wipe long positions prior to a long push uphill.