Dips are illegal

CoinSheet #260

To try to be safe everywhere is to be strong nowhere.

— Winston S. Churchill (1874-1965)


Note from me

Lately I’ve been playing a game called Teamfight Tactics (basically a strategy card game), and I know some of you have been playing it too.

I’m going to be messing around with streaming so you’re welcome to join and tune in.

I’ll probably be playing with other folks who are in the crypto space so you’ll be able to ask us questions and get answers as you send em’.

If you’re into this kinda stuff, follow me on Twitch.

https://www.twitch.tv/generalsol

…on to the dips


Dips are illegal

And what I mean by that is that they should be illegal in your mind whenever you think of bitcoin. Think of it as adopting a type of mental model/framework that will save you a lot of money.

ESPECIALLY DURING THE EARLY STAGES OF A BULL MARKET.

I think trying to catch dips now is like trying to catch those dips in 2017 when bitcoin was ranging from 1.2k-3k.

Think of the bigger picture, and you’ll probably be happier in 18-24 months.


I bring you headlines


IRS discusses investigating taxpayers who hold crypto

CryptoTaxGirl shared a presentation given to special agents in the IRS Criminal Investigation division that discussed investigating taxpayers who hold crypto.

Below are the summary tweets. (Full slides here)

happy excuse me GIF

Market Sentiment

Bitcoin

It looks like we broke out of a triangle and there is going to be some resistance around that macro 38.2% fib line.

But don’t stare at it too long, because you’ll blink, and bitcoin will be at 16k and targeting all-time-highs.

Bitcoin is as bullish as it can look. Even if we dip back down to 9k, bitcoin would still be super bullish.

(Weekly view below)


Most other technicals that I use (moving averages, TD, random oscillators, etc..) aren’t interesting right now and there so I don’t see value in adding them.

Also, because they might distract you from bitcoin.


Bitcoin (Macro Overview)

We’re about ~314 days away from the next halving event. Less then a year away.


The end

That’s all for now.

See you later space Cowboy

-Dmitriy