BTCSessions on Nostr: Charlie Munger hated #Bitcoin , but he did drop timeless wisdom from time to time. He ...
Charlie Munger hated #Bitcoin , but he did drop timeless wisdom from time to time.
He once said that "the markets are a mechanism for transferring wealth from the impatient to the patient."
This is 100% true. And it's about to happen AGAIN in #BTC .
Markets only move in two phases. The impulse phase and the corrective phase. The next impulse cannot begin until the current correction completes. We should be rooting for the correction to flush out the weak hands so that we can get on with this party.
Corrections happen in 3 waves, or combinations thereof. I have them labeled as waves A, B and C on the chart below. Wave C has begun, in earnest.
Wave C will be nasty, but once it completes, the up move will resume.
There's an 80% chance that Wave C terminates in a buy zone between the low $50ks and low $40ks. This is where weak hands will start to panic and will sell their coins because they fear BTC will head much lower, and they can't take the pain.
This is where you back up the truck.
I'll be buying more BTC than usual if/when we get into that zone represented by the box. This will be "deep discount" territory for BTC.
After this dip, get ready for the rip.
-Rip
He once said that "the markets are a mechanism for transferring wealth from the impatient to the patient."
This is 100% true. And it's about to happen AGAIN in #BTC .
Markets only move in two phases. The impulse phase and the corrective phase. The next impulse cannot begin until the current correction completes. We should be rooting for the correction to flush out the weak hands so that we can get on with this party.
Corrections happen in 3 waves, or combinations thereof. I have them labeled as waves A, B and C on the chart below. Wave C has begun, in earnest.
Wave C will be nasty, but once it completes, the up move will resume.
There's an 80% chance that Wave C terminates in a buy zone between the low $50ks and low $40ks. This is where weak hands will start to panic and will sell their coins because they fear BTC will head much lower, and they can't take the pain.
This is where you back up the truck.
I'll be buying more BTC than usual if/when we get into that zone represented by the box. This will be "deep discount" territory for BTC.
After this dip, get ready for the rip.
-Rip