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Lance Thompson
302 Posts

Took him a while, but Crypto Kirby has finally seen the pattern in the chart to make him believe that Bitcoin is now really really really forming a “potentially” bullish/upward pattern.

Only thing I can do is speculate on what is keeping Bitcoin from breaking out and spiking up into the $5,000s or higher. Want to know what I think institutional investors are waiting on?…….I think they’re waiting on the U.S./China Trade Deal to be finalized. Don’t ask me for any technical information that explains that, all I can tell you is that I’ve got a hunch…..I’ve just got a strong feeling. Whenever the U.S. & China announce that they’ve finalized the deal, which I suspect will happen some time in April (and with all of the posturing going on between the 2 countries’ regimes it may even be stalled until May or June) let’s see if Bitcoin spikes within the next few days of that announcement. If it does we know that I was on-point. Until the market has “certainty” that the deal will be finalized I believe that Bitcoin will be “rangebound”, just channeling across, & across, & across, & across, somewhere between $3,170 & $4,100….(in all honesty I really expect it to be rangebound between $3,800 & $4,100 but there is a possibility is may take a dip back down to our previous low of $3,169). When she dipped down to $3,169 a few months ago she was “well defended” by the buyers at that price-point & the sellers “lost steam” at that level so I don’t expect that to change. Also, as many of you are acutely aware ALL INDEXES are rangebound & just sitting there bouncing back-n-forth until the U.S./China trade deal is finalized…..the Dow, the Nasdaq & the S&P are all stuck in certain ranges, as is oil between $58 & $60 a barrel awaiting the word from the 2 regimes that they have a deal. I sincerely believe the crypto market will trade no differently.

And one last thing…..IF cryptocurrencies spike after the announcement of the U.S. & China trade deal then we’re all going to have to tune-in to CNBC & Bloomberg tv/radio/online broadcasts for the explanation of why that trade deal impacted the price of cryptocurrencies from the institutional investors they interview….Cause I don’t know about you but I’m gonna be thinking “Y’all got some explaining to do…What the hell just happened??”……I suspect that it may have something to do with more regulatory clarity on cryptocurrencies but I can’t say that for sure so I’ll be tuning in for the “official” explanation.