@bitharington

#Bitcoin

Joined December 2010
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Update on the 20D Bitcoin chart with RSI and MACD, eight months later. Looks amazing, especially the MACD perspective. Yes, there was another 'crash' in May/June, but starting DCA'ing BTC when dark red flipped to light red in February was a smart strategy. xitter.cf/bitharington/status/20…
Bit Harington@bitharingtonFeb 19
The Bitcoin 20-Day chart, with RSI and MACD indicators. Currently, there's no clear sign of a trend reversal, so patience is essential. However, DCA is not a bad idea here imo, given the current market conditions.
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Finally, a higher high for Bitcoin. That's essentially the last argument of the bears. Bitcoin is punishing those who refused to stack below the previous ATH (~70K). No Daily/Weekly close of this higher high confirmed yet, but this feels like a classic Bitcoin bull market.
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February was the Bitcoin bottom. June was a fake out. This happens all the time. Same pattern: xitter.cf/bitharington/status/16…
Bit Harington@bitharington13 Dec 2022
What if...? #Bitcoin
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Bitcoin holding pretty strong while various indicators (RSI, MACD, Fisher) cool down, is exactly what we need for the next Bitcoin pump. But some dull price action and another boring dip first, I guess. Patience. Don't let them buy your Bitcoin. (Chart = 12H chart)
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This is real. Indicators like the RSI tell a story. Selling Bitcoin below the previous ATH ($70K) was not wise - it was clearly stupid. The months long Bitcoin accumulation period appears to be over. Be bullish. xitter.cf/bitharington/status/20…
Bit Harington@bitharingtonFeb 5
Relentless selling. The 3D RSI has almost never been this low. Insane #Bitcoin
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Update xitter.cf/bitharington/status/20…
Bit Harington@bitharingtonJun 17
Bitcoin is below previous ATH (~$70K) and around the bottom of the power law line (red line, log-log chart). This is buy/DCA territory imo. Is the Bitcoin bottom in? Don't know. Perhaps it wasn't $60K, and we'll see $50K - no one knows. But this area is the buy/DCA area imo.
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$60K in February was the Bitcoin bottom. Basically six months of bottom zone and accumulation. Nothing beats normie sentiment. It's still the best indicator. xitter.cf/bitharington/status/20…
Bit Harington@bitharingtonFeb 5
Friend who always texts me when Bitcoin is in a hype bubble or when it's crashing/red, just texted me. His timing is amazing; since 2017. This feels like bottom territory. He doesn't know about previous ATH (basically current price), oversold RSI, etc. Sentiment perfectly aligns.
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Bit Harington retweeted
Bit Harington@bitharingtonJul 6
Replying to @BoringBiz_
Buy Bitcoin when Saylor sells Bitcoin
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The Bitcoin bottom is not a precise price or date. It's a price zone. The bottom this time, is the area below previous ATH; sub ~$70K. We're above this price zone now. One day we will leave this price zone forever. Lots of traders/gamblers will buy higher. xitter.cf/bitharington/status/20…
Bit Harington@bitharingtonMar 11
People sell Bitcoin below the previous ATH of ~70K... Imagine selling below the ATH of the cycle before; that's selling around ~20K in 2022. That's the same. It's stupid. BTC can go lower; no one can predict the future. But it doesn't make sense to sell below ~$70K...
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I still believe in this perspective; although it's not that easy to spot on the BTC/USD chart. February $60K was the bottom. Who cares if we go somewhat lower. It's not about the details; zoom out. We're already six months in the boring waiting phase now. xitter.cf/bitharington/status/20…
Bit Harington@bitharingtonFeb 19
Random Bitcoin idea, based on BTC/EUR chart, because it removes the inflated second 2025 $ price top. The second top in 2021 was also a fake out. It's fair to say covid/FTX were black swan events imo. What if it's ~14/15 months from price top to price bottom. Perhaps we're close.
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$60K in February was the Bitcoin bottom imo. The dip in June was just another opportunity. Even if we drop below $60K again, the narrative doesn't change. The bear market is over imo. We are currently just chilling in the boring consolidation phase - this happens each cycle.
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Each day below ~$70K (previous Bitcoin ATH) is buy/DCA zone imo.
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CBBI with only MVRV, Reserve Risk and Woobull active. If you buy when this combined indicator is below '10' and sell when it's above '90' - you win, each cycle. It was '13' a few days ago. I hope we will see below '10' again this cycle, but this - right now - is the bottom zone.
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From '10' to '90' - First cycle ~ $4 to $800 (x200) - Second cycle ~ $260 to $7000 (x27) - Third cycle ~ $4000 to $32000 (x8) - Fourth cycle ~ $19000 to $90000 (x5)
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Source: colintalkscrypto.com/cbbi/in…

CBBI - Colin Talks Crypto Bitcoin Bull Run Index - BTC Price Evaluation

Colin Talks Crypto Bitcoin Bull Run Index (CBBI) uses multiple metrics to evaluate the confidence that we are at the price peak of the current Bitcoin bull run.

colintalkscrypto.com
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Bitcoin is below previous ATH (~$70K) and around the bottom of the power law line (red line, log-log chart). This is buy/DCA territory imo. Is the Bitcoin bottom in? Don't know. Perhaps it wasn't $60K, and we'll see $50K - no one knows. But this area is the buy/DCA area imo.
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Diminishing returns are very real, but buying Bitcoin at 50% discount of the previous ATH is still fun.
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It's still the same imo. Do not sell Bitcoin below previous ATH; Do not sell Bitcoin below ~$70000. In fact; I just bought 0.1 Bitcoin at ~$63500. xitter.cf/bitharington/status/20…
Bit Harington@bitharingtonMar 11
People sell Bitcoin below the previous ATH of ~70K... Imagine selling below the ATH of the cycle before; that's selling around ~20K in 2022. That's the same. It's stupid. BTC can go lower; no one can predict the future. But it doesn't make sense to sell below ~$70K...
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Update Bitcoin chart (20D). Positive imo. The MACD looks great - looks like a trend reversal. And the RSI has a lot of room to go up. xitter.cf/bitharington/status/20…
Bit Harington@bitharingtonFeb 19
The Bitcoin 20-Day chart, with RSI and MACD indicators. Currently, there's no clear sign of a trend reversal, so patience is essential. However, DCA is not a bad idea here imo, given the current market conditions.
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So, 5 Feb / 6 Feb was actually the Bitcoin bottom? It seems... Crazy. It's always the same pattern. You couldn't make this up... Normie sentiment is the best indicator, lol. xitter.cf/bitharington/status/20…
Bit Harington@bitharingtonFeb 5
Friend who always texts me when Bitcoin is in a hype bubble or when it's crashing/red, just texted me. His timing is amazing; since 2017. This feels like bottom territory. He doesn't know about previous ATH (basically current price), oversold RSI, etc. Sentiment perfectly aligns.
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