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Peter Schiff Shared: When Bitcoin breaks below the lower end of this channel lookout below. It will likely crash to the lower support line. Most HODLers who pledged Bitcoin as collateral for loans will be forced to liquidate at prices much lower than what will prevail at the time margin calls are made.
Community Response: Peter secretly wants Bitcoin to crash to 10k dollars so he can finally buy some.
Peter Schiff: I would not pay 10K dollars for Bitcoin. That’s much too high a price. But I agree it may bounce from that lever, perhaps lower, before the next leg down. So it could be a good trade, but with a lot of risks.
Community: How is that dollar crash thesis working out?
And Biden’s executive order on crypto hasn’t even come out yet. BTC is facing that along with a few more bearish elements.
Peter, when Millennials & any other generation besides boomers play a game with a cheating player, we play another game with other kids. Banks have rigged the gold market, so we all decided to play a true mathematically fair game Bitcoin. We will not be buying your gold bags.
BTC has only existed in a world of aggressive quantitative easing, we’ll see what happens when QT kicks in.
Implying the Fed can undo years of QE and artificially low-interest rates. I’m thinking the dollar goes poof before the Fed even attempts to undo a decade of financial engineering.
The dollar is getting weaker. It’s only.
Peter, please stop it. Following you for years, trusted you, because I was new on Twitter and that’s why I didn’t buy BTC at 3,000 dollars. Could’ve made the wife change money.
What if it breaks up, would you turn bullish?
If you’re going to use TA at least use it properly, not just for confirmation bias. You need to understand the difference between seeing something and looking for something.
Here’s what I see and I don’t believe in BTC (but starting to reconsider – at least for a trade). Need to get over the 200 EMA though.
TA works very well in crypto. Also, you can blend in more elements to add conviction or otherwise. For instance, liquidation levels (stops) are completely visible. The skew between the spot and perp price is actionable in both directions. Exchange Netflow negative is good.
Usually, you can comfortably trade from the perpetual charts, but that charge through 40k the other day was some highly unusual spot accumulation to the tune of several hundred thousand coins. For some reason.
You have a big dream, but the dream isn’t true as you imagine but there must be a reason why bitcoin will crash and we don’t know it.
Whatever thing goes up will come down one day. So, if BTC goes down doesn’t mean it won’t go up again. Leave it! Do your thing! You made your point now go live life.
When Gold breaks below this support lookout below. It will likely crash to the lower support line. Most HODLers who pledged Gold as collateral for loans will be forced liquidated at prices much lower than what will prevail at the time margin calls are made.
Likely to go higher. It’s survived everything in the last 2months. Perfect setup for wave 3.
If it goes higher then it looks like it’s setting up ahead and shoulders and I’m sure you know what that means.
I love that I get constant reminders to buy bitcoin from Peter. Such an MVP for telling me when it’s on sale. Needs to tell me the same for gold too!
What happens when it breaks out of the top? Knowing Bitcoin, I wouldn’t be surprised at a massive wick down out of the channel (Peter will throw a party, which will signal reversal) and then it’ll smash back up through the whole thing.
I wouldn’t be surprised either. 10 years from now we will miss the volatility
And we will miss Schiff. Bitcoin will continue to go up forever. Why is it so hard to understand?
