BTC double top or break out?

https://stockcharts.com/sc3/ui/?s=%24BTCUSD

USD has been in a channel since early 2023. Unless it decisively breaks through to establish a new trend all these moves are noise.

Wendy

Or has it almost completed a cup and handle?

DB2

I agree there is nothing there yet.

But it is odd. The btc cycle has been destroyed. Looking forward we all know quantum computing soon enough will hack the blockchains.

People are gambling anyway. If all we want to do is look for the irrational it might be here regardless. It is very late. The cycle is almost over.

adding
Ah the dull tool set strikes again.

It’s easier to see it on the ETF’s. Here is BITB, if you look at all the bitcoin ETF’s they all look the same. They have been in a consolidation pattern and are getting ready to break out. We should see it break to over 100,000 on Bitcoin.

We are in the middle of the cycle.

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we all know quantum computing soon enough will hack the blockchains.

  • Breaking Bitcoin’s encryption would require approximately 1.9 billion qubits to crack within Bitcoin’s 10-minute block time[
  • The most advanced quantum computer today (IBM Quantum Osprey) has only 433 qubits
    ** The cryptocurrency community is actively developing quantum-resistant cryptography
  • The distributed nature of Bitcoin’s network provides some inherent protection against quantum attacks
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Yea but what if they just put 5 IBM Quantum Osprey’s in parallel? Then they will 2,165 qubits and crypto will be sunk.

(Just had to say that before someone else says it). :nerd_face:

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We are close to when the high should be in the cycle
The other half of the cycle is down.

If what you say is true then we should have seen the high. I think you are incorrect.

It can go higher but it is a whimper. Not nearly manic.

You need to bank on the yahoos and this election. The whimper is going against you.

But that is the beginning of leaping into much higher orders of computing.

Bitcoin just broke out.

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Gold dropped like a rock this morning.

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