Long Bitcoin - A Hated Rally
Good day, sirs!
It's been a while since my last post, but I felt like I had to do this, since this is once again one of those moments where I feel like there are so many things alaining for Bitcoin that I have to write about it.
1. It has been a record setting 134 days with
BTC funding being at or under the basic 0.01 level. If you have been following crypto for a while, you know that funding is one of the best (if not THE best) indicators. Negative funding --> buy, properly positive funding for a long time --> sell. Last times whe had this kind of sustained low funding levels were summer 2021, spring 2020, winter 2018-2019. All were followed by big pumps.
2. Many are sidelined, and were expecting a long bear market because of the war in Ukraine. They are shorting or going to have to buy back in higher.
3. Do Kwon from Luna is buying 125 mil $ worth of BTC every day, and are expected to continue for 1-2 months perhaps.
4. ETH merge upcoming summer/autumn of 2022. This is going to be huge, ETH switching from PoW to PoS, with a 90% decrease in inflation. Basically 3 BTC halvings at once. As ETH is going to pump, so is BTC.
5. Russia said yesterday they are okay with taking BTC for their oil and gas. Massive.
6. Huge inflation numbers across the world. Real inflation much higher. People are looking for stores of wealth.
7. CT is much calmer than 6 months ago, many noobs have left and only strong hands remain.
8. LTH (long time holders) buying 7-8x average daily miner supply at the moment. Look it up. Has historically marked bottoms when hodlers are stacking sats.
PLAN: Buying BTC here with x3 leverage and looking to take profit the first time at fib 0.618 from the top so roughly at 54-55k. 33k could well be the historical bottom, but if price would fall there I'm more than happy to be wrong and would just buy more spot into my long term holdings.
It's been a while since my last post, but I felt like I had to do this, since this is once again one of those moments where I feel like there are so many things alaining for Bitcoin that I have to write about it.
1. It has been a record setting 134 days with
BTC funding being at or under the basic 0.01 level. If you have been following crypto for a while, you know that funding is one of the best (if not THE best) indicators. Negative funding --> buy, properly positive funding for a long time --> sell. Last times whe had this kind of sustained low funding levels were summer 2021, spring 2020, winter 2018-2019. All were followed by big pumps. 2. Many are sidelined, and were expecting a long bear market because of the war in Ukraine. They are shorting or going to have to buy back in higher.
3. Do Kwon from Luna is buying 125 mil $ worth of BTC every day, and are expected to continue for 1-2 months perhaps.
4. ETH merge upcoming summer/autumn of 2022. This is going to be huge, ETH switching from PoW to PoS, with a 90% decrease in inflation. Basically 3 BTC halvings at once. As ETH is going to pump, so is BTC.
5. Russia said yesterday they are okay with taking BTC for their oil and gas. Massive.
6. Huge inflation numbers across the world. Real inflation much higher. People are looking for stores of wealth.
7. CT is much calmer than 6 months ago, many noobs have left and only strong hands remain.
8. LTH (long time holders) buying 7-8x average daily miner supply at the moment. Look it up. Has historically marked bottoms when hodlers are stacking sats.
PLAN: Buying BTC here with x3 leverage and looking to take profit the first time at fib 0.618 from the top so roughly at 54-55k. 33k could well be the historical bottom, but if price would fall there I'm more than happy to be wrong and would just buy more spot into my long term holdings.
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