I was sitting here tonight, as I usually do, looking at different charts within crypto currencies, especially Bitcoin. I noticed something legendary - we might see the start of a batman formation in the Bitcoin chart!
To enlighten you folks; the first part of a good batman formation is a REALLY strong movement – the Bitcoin movement is about as strong as it gets! (Just look at the chart). Now, let us keep an eye on the chart in the following weeks, shall we? (I bet you do already)
We have just located Batman's left ear so what we need to look for now is that strong support level at the top of Batman's head (seems like we have some resistance levels at 50K and the spike of his left ear would be around 64k). What we want to see moving forward is a consolidation period, and if you imagine batman’s head, you got the left ear and the consolidation period is now the top of his head. So as we move forward with Bitcoin we wanna start filling our pockets with more Bitcoin and then look for the start of a right ear. When this is a reality then you got your last chance to fill your pockets with B to the C (Bitcoin). So for the right ear we want a sharp spike that test the resistant level to the other left ear, and if this pulls through we have eventually a batman formation.
What happens then? Well, it might get "spoky", we all know how batman looks when we see him at the movies... but for now lets think of the current price as a opportunity to fill our pockets with Bitcoin before we see Batman in his fullest formation.
This formation doesn’t come along very often but when it does it can signal a good place to do an investment for a certain period of time.
Is it time to buy more Bitcoin? At least Batman has high integrity:
Cheers
@olebulls
Posted Using LeoFinance Beta
Hehe, I very much doubt that we'll see a full Batman shape given the levels we've risen to and the number of people now looking to get in (could still get another few rough corrections, but the right shoulder will be higher than the left one I'm sure!).
Also, this all got triggered by two one-off news stories of Elon Tweeting and Binance being investigated. So don't see that being anything other than a shirt term effect. (Unless the Tesla announcement puts real dents in investor expectations of more large companies announcing their BTC investment now that they may perceive that Tesla backtracked a bit to avoid bad PR due to Bitcoin's image of not being environmentally friendly).
The FUD is always a bit silly... it's clearly the perfect time to BUY THE DIP! That is all. Carry on. :P
Posted Using LeoFinance Beta
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