Profit Taking After a 30% Rally on Bitcoin | What Can We Expect Next…

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  1. (1) 1
    TipsyCrow says:

    Timely post. Thank you, Peter!

  2. (2) 2
    LB_NYC says:

    Question for the team – bitcoin was trading at 67k in November, why is smart money (2-5 year holders) selling bitcoin at this time? What are they seeing in the near term that others are missing?

    1. (0) 0
      Alexandre Juvé Bori says:

      Russia invading Ukraine?

      1. (0) 0
        LB_NYC says:

        In that case markets should sell off another 20%… more supply chain issues and higher oil prices, expect 9-10% inflation:)

    2. (1) 1
      carredondo04 says:

      I had that same question and I think it is a good one. I don’t think the Russia/Ukraine fiasco has anything to do with it.

  3. (0) 0
    Walhamdi99 says:

    @GOT btcusd at 69k bull market will resume, the recommendation was any further dip is a buying opportunity, btcusd at 45k weak sell and we can look to take profit, could please help me out to put all pieces together.?

  4. (3) 3
    Maxrothira says:

    This is my understanding:
    Smart money is selling profitable coins.
    They start selling after the market bottoms, and sell all the way up (and accumulate all the way down).
    Peter thinks this is a good coin stacking price range.
    On a short term basis/trading viewpoint, Peter sees a retest of the lows in BTC and SP500 as the likely short term outcome. So with a 15% drop as the likely short term outcome in BTC, he is saying if you have need of fiat, go ahead and sell a bit.

    He is trying to give stacking advice and trading advice and they often contradict because they have different goals. Before the last leg down, he stated it was a good stacking range but not a good trade entry.

    1. (0) 0
      Walhamdi99 says:

      @justin-froulath thanks for the clarification

  5. (1) 1
    MOK says:

    I’ve had a similar price channel drawn on the Bitstamp chart for a few years now watching with interest which looks similar to your channel. It is using the Schiff Pitchfork from the Nov 2013 high to the Jan 2015 low to the Dec 2017 high.
    The red median line which is where we are at has fascinating history for support & résistance & was the capitulation point for the 2018 & 2019 sell offs.

    I was wondering if this is how GOT comes up with the similar price channel lines?

  6. (0) 0
    TheBlendedTrader says:

    Would love to know how SPOR is doing as of currently. We had a bit of a sell of and now that tensions between Rus and Ukr seem to be easing, with markets and BTC gapping up today, I wonder if there’s slowing in SOPR of long term holders and rising accumulation of big/strong hands