Loading ...Bitcoin inflection point
I have been tracking this line since March when i was looking for a good time to go short Bitcoin with the BITI.TO ETF here in Canada. I picked up a good amount of BITI when it tagged that line from underneath in April and made some nice gains then sold when it started approaching the 200 day and the back test of the head and shoulders bottom late 22/early 23. Since I can’t go long Bitcoin, because I think it is worthless, I have been waiting and watching as it broke out above the line and now looks to be back testing it to the upside.
For those that believe in Bitcoin, you can’t ask for a better spot to go long with a clear stop to bail out on. As for myself, i will be waiting to see if it breaks back below that line and will then be loading up on BITI again.
“Since I can’t go long Bitcoin, because I think it is worthless”
As a long term B&H, I agree in principle.
Probably is that I think the same of bucky.
And if you’re Chinese, or a USSA prisoner when the walls close in, BTC offers a temporary way to escape capital controls. Don’t overlook the value of that.