David, Tito, Debbie Downer discussed on Bitcoin Radio
I'm just GONNA call you C mo because it's a coup who asked name so seem I was your name from here it just because it's so much easier for me to say but C mo says. Hi David what up CMO Tim Pace. The Genius says he's Seventy K.. How do you feel about that? Who by Bald Eagle Ballsy No I don't think that's ballsy. I actually think he's. He's playing it safe there or maybe bring risking missing out on a nice move up man. I don't WanNa be Debbie Downer. But I guess I'll note speak. Oh you look like we've had enough discussions David. I'M GONNA disagree with you if you think it's going to go down only because I'm looking at the five year period so it it depends on timeframes and so forth exactly overall. We're going up one hundred percent. Sure I shouldn't say our percent ninety nine point yeah. We wouldn't be here if we didn't think that there was something happen. Yeah so I think I mean kind of like big picture thing when we saw that you know that big move down and we saw six K sixty eight hundred that really strong area. I was tracking multiple people. Making huge cash buys but but also some pretty big cells at thought that possibly could be a form of distribution and then we went lower bounce back up and I think were an an accumulation rain right now. Here's a little low pro tip. I've got an average of sixty eight fifty by a long from. That's where I'm on from. Yeah now we could have some and pumps up till some pumps in front of there but nothing too crazy. Kim assisted by the way all right. So so let's let's just let's just back off and let's let's look big picture real quick shirt when you see this chart and I'll be the first one that had met. This looks like a descending triangle where it's a it's so it's a it's a bullish at the end of the triangle but farish and the the in the in the way that it's going to move right. Yeah so you know we can see that it went up really high and that is two years ago right you. Can you see my mouth. I don't know if that shows up on the screen. I don't cite your mouth. No but I all right where it goes. Okay well obviously we experience this. We not only see where it went up and we were there. We all just got super rich and we were GONNA be millionaires. There's in you know forever and it was Never GonNa Change and then obviously That's a steep decline as as almost as steep incline that we had We we saw it drop We've seen recovery. We've seen dips we've come back up. Come back down you know right around that What was it early? Twenty nineteen mark is is the Bald Eagle stage and Almost a cup and handle and it's just continued to go up. We had a nice run almost a fourteen. But you look at this and you got to say if we don't make a move who've quick than we are in a descending triangle it is bearish until it isn't and And the trendline. Although we could definitely still go play with ten eleven thousand thousand hours easily tomorrow you know. Just based off of of of charts more likely. We have a an a redress of a bottom of four thousand dollars. There's a very good chance that that can happen. That's a realistically speaking now. I don't believe that I do honestly believe that. We're on that I end because if hold on I'm going to pull us up. Give me one second long time ago a long time ago this chart right here looked a lot bigger and this is something people people forget is this is not relative to Actually what it was doing you know I remember you know not this price to twenty six but I do remember seeing Bitcoin two hundred and I do remember seeing Bitcoin at one thousand here and then You know playing with that and going up and down and touching it and I remember when I bought Bitcoin Thousand Dollars David that it went down to not this price. This is I. I think I was November of two thousand thirteen. So let's find it. That's my buying right here. That's actually me right there. The yeah that was me And of course I probably got some horrible price because I bought it in. Pay Pal the guy money. Not only did I pay their fees but this guy probably gave me whatever pricey decided Ziming. Bitcoin hey coin right so I probably paid closer to like like twelve hundred like the most expensive bitcoin ever by the way. Probably I wouldn't be surprised but then you know it wasn't it wasn't always great after that we quickly you know retested a bottom and my. It's not really doing what I wanted to because the timeframes on properly happily but anyways the point I'm making here is this. Is that what I think what happened. Sometimes does oftentimes doesn't kind of cornered that market a a little bit in what you experienced and what you've told me and I would love to know what your thoughts are on a big scale right on the big time frames and then also you. You know what what what what people should be expecting. You know on a short term so in other words should I buy or sell right now it depends on it depends on anybody. Let's just clarify. I'm not giving any financial advice or anything like that. Just thought wine negative negative give I guess before we can. We have a drink and we opinion. Quick you can't give you take a drink of Tito's I'll we'll have one. I'm GonNa pour one right now. Go ahead go It's kind of you know it depends on the picture in in what you're doing if you're just buying like ten twenty bucks here and there a Bitcoin you're not gonNa try to you know use it and it's just a little trading yeah not trading. Just if you're truly investing you know just going to buy little bits throw some away. I see what happens. there's any times a good time to buy right now later if you're just doing a twenty bucks every month whatever. It's not a bad time and hold on before you go any further. I think it's a very very big deal. What you said? There's a relativity t- to what your goals are folks if you're stepping into this saying I'm GonNa Buy Twenty five thousand dollars. It's all of my i. Ah My life savings and I'm going into bitcoin well first off. That's the dumbest Shit. Me and David would agree on this. That we've ever heard in a pretty should be diversified. You you should be safe and you should be putting yourself position to not lose money on multiple ways and if some of them work out and they should if you're smart and if you wonder lessons you know you should should. You should do. Okay you know People WanNa speculate all the time because they want to get rich fair enough but relative time periods. Are you talking twenty years folks. Are you talking twenty days. Are you talking twenty minutes which is honest time. Period and Crypto is not David Up Dude and twenty minutes and and you can live and dial twenty minutes. I've seen people make a hundred thousand and lose two hundred and twenty minutes and David. I'm GonNa let you actually have the screen in for a minute myself. I need you to handle this for me. Okay actually got to take a phone call. That is really important family matter so let me do that but I will be right back on Twenty seconds sure sure. Sure well welcome to my show. Everybody cycads show any who Look at this chart and understanding understanding the fundamentals and the things that are kind of playing behind the scene I think personally that this this range range that we're playing anywhere from here to all the way down to like fifty nine hundred fifty eight hundred. BTC If you go back you can see. I can't see the dates aids but we're we're really tracking this Around the fifty eight hundred the backup to That sixty now ten ten a little bit over comeback down. I was watching some like really big injections come in And then very large cell of cells come through and we're just talking trade volume so I took at as a distribution period where others a lot of people have accumulated probably cumulated for the past. You know however many years year maybe they're mining. They just wanted to liquidate. They saw the writing on the wall. They've been through this market cycle before where You know we've seen a thousand dollars than we've seen two hundred bucks. So I saw that area that time as a distribution period coming through a pretty big dip and now we're kind of coming back to six K. area. I think it's going into former support. Fifty eight hundred six K.. As where kind end of like I'm if I go along and we dip a little bit below I'm not thinking we're going to go all the way back down to touch that three K.. Again I'm not willing to bet any hair on it but I it's just kind of what are what I'm seeing right now So really I'm kind of happy with what we've done when we needed to come back after we broke through that six K.. Mark five point eight six gay once. We broke through that the first time we really needed to come back down and test it again former resistance turns to support efforts been tested and hold so with that being said you know I'm okay with where it is. Ta Judo's painting a pretty picture that that could say. I'm wrong but you never know it's it's GonNa be interesting. We're at a very interesting point right now where you know. This is where if I had not witnessed the actual horrible pain in your eyes. During the accident I would be waxing. Betting you again but You you you paid your you paid your dues for everybody that day a Including me I could just as easily. I will openly admit that I I was basing my my observations off of public sentiment and that conventionally had to be a move up right And you're basing off of Off of similar concepts and there was a lot of negativity in the market. Don't get me wrong A in Bassett. I just bought some. Tito's cheers brother. Ask but you could just I mean. I'm not saying that this is going to happen. I mean unlike I pointed this out for a reason and I drew that those those Those trend lines you know which are the most basic turn lines. And they're not even right. I I mean this is a pretty big time period coupon off. Yeah this long form but this could easily and hopefully it would it would sustain you know in bounce off a forty four four hundred if we felt all the way today but every day that we move forward it gets a little higher in rural higher that bottom should at least breast too right but also the the ceiling gets lower or lower but when I see the ceiling get lower. You know the means. It's easier to break it. It is with me. So I'm how do I put this. I respect Ta and I respect certain technical indicators for this market specifically crypto currency given given how emotional the vast majority of players are how the the unregulated nature of it tends to bring out more motion and more fall mo and so forth so though ta I will say Ta. There are certain that I use on a daily basis under certain indicators. I don't use news but there is something to be said about it because if everybody believes it it's true regarding exactly you know so. Yeah I I I like it and I what I worry though is so I'm kind of not necessarily tinfoil hat theory but we're all familiar with bit fanatics and the USD tea or tether there and everything that's going on in the news and so forth so I would. I would pose this question. Joe That that top of the the very very top when you and I were dancing drinking and dancing at nine hundred million bro. We're we're going to have to worry about money again. Yes is up here by the way. I'm like shaking this this dotted line okay. That's not that's not how we feel today right us to how we felt good all right. Yeah and then we visited this Eh. Oh man those are some also to. They made us tough. Who still standing though? I mean that that comeback all the way down to three K.. If you're standing after that I mean you know. Where's where's where's all these influencers Stilo Pez whereas these guys who were super big and encrypt oh they've moved onto different industries. I don't know where you know. So we're still here shows one we said something onto we've endured kind of are somewhat smart if we've endured or nineteen all the way back down. But what if I told you that. Nineteen seven area one thousand nine hundred eighty. What if I told you that wasn't true through but if I told you that because of potentially allegedly manipulation and if you're talking about maybe like here that that seems more normal right that's even or even here I atla but what does this eight thousand here? I look November November October. Okay this is this is the thirty first. I about two thousand seventeen right here. Seven seventy six hundred bucks right. Thanksgiving was like right here. Sixty eight sixty nine. Okay all right. Let's give maybe not thanksgiving Let's talk over anyways..