Quote: (Today 01:31 AM)Nolimitz Wrote:
https://www.tradingview.com/u/MagicPoopCannon/
Here's a link to a trader's blog on btc/crypto. Interesting stuff. This trader believes we are currently in a bear rally. Calling for a price of 3k in October on the grounds that bitcoin is "linear". Also writes that the next bull run will see a ATH of 150k per.btc.Of course no one knows. Curious your guys' thoughts.
The guy isn't as dumb as his name sounds. His entire argument is NVT flashing red + maxed out Money Flow Index reading = average 85% drop in price.
Based on all the evidence to the contrary, I don't think that's going to happen. Price will drop down but continue to make higher highs, not lower lows that culminate in something resembling a 85% drop. If price dropped anymore than 40% or broke through the 200 weekly average I might consider subscribing to his theories but until that happens I will just ignore him.