Is bitcoin facing macro resistance?
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This idea is purely experimental and for your entertainment but it does provide some clues that we could be nearing a top in this market cycle.
I have connected a curved trendline with prior cycle tops and measured the inclination from top to top. Both point to a possible top at the current levels. Obviously "guessing" macro tops and bottoms in any market is not a strategy that I would base my trades on but it does serve as a reminder to those who may be new to the world of cryptocurrencies and have gained significant dollar value from the bitcoin and altcoin bullrun - to take profits. Every market will see expansion and contraction, it is inevitable even on the best performing asset of the last decade and paper profits are just that. Paper profits. The need to risk more and more money and take higher and higher risks for the ultimate moonshot gamble trade will eventually lead to a lot of pain and despair. It is not a question IF but when this will happen. You must be able to cash out and it will not be at the very top except for that one person.
All the best to all of you.
I have connected a curved trendline with prior cycle tops and measured the inclination from top to top. Both point to a possible top at the current levels. Obviously "guessing" macro tops and bottoms in any market is not a strategy that I would base my trades on but it does serve as a reminder to those who may be new to the world of cryptocurrencies and have gained significant dollar value from the bitcoin and altcoin bullrun - to take profits. Every market will see expansion and contraction, it is inevitable even on the best performing asset of the last decade and paper profits are just that. Paper profits. The need to risk more and more money and take higher and higher risks for the ultimate moonshot gamble trade will eventually lead to a lot of pain and despair. It is not a question IF but when this will happen. You must be able to cash out and it will not be at the very top except for that one person.
All the best to all of you.
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