As bitcoin begins, potentially the biggest back test of all time, polygon continues exploding and set a new all-time high today, as we’ve been discussing for months, but what’s even bigger than all of that, is that this bad boy is just getting started. I’M your host goobis gigablast and with only a few days left of this year, crypto has never been more ready to let its juice loose.
These absolutely time-sensitive alerts guys as well make sure to drop your comments below if you’re interested in bonuses make sure to check out the pinned, comment and description below. I have one twitter one: instagram they’re, both linked below the rest, are scammers trying to steal from you and without any further magu. I think it’s time to blast extremely big.
So after a miracle, christmas pump episode all the way up to like 51 000 us dollars. Absolutely very big, almost 52k bitcoin is potentially initiating that back test that retest of the 21 day moving average, the most key thing so far, also confluent, with the top of this, the tippy top of this descending broadening wedge.
But before we continue with the bitcoin guys, uh matic actually just set a new all-time high today, for the very first time in about seven months since may, okay, absolutely ginormous and we’ve been talking about matic for months now, uh, you know back on November 3rd.
The initial breakout then most bigly, the November 24th retest uh initial move that broke the 21 day again very important there, but um yeah, just very big things with matic and as well something real quick. I want to cover about it, polygon being a layer 2 network designed for scaling and application infrastructure.
Development on eth has been making its rounds lately. Obviously, there is a lot going on with it. I just want to highlight a few things here from the polygon scan explorer. You can see the average block. Time is around 2.
seconds for Ethereum it’s about 15 and then the gas fees are about .001 matic token, which is a fraction of a penny. So much cheaper than paying a hundred dollars to send some each right, much cheaper than eth and as well there’s nfts, there’s a lot going on with polygon.
I’M not going to you know, spend too much time regurgitating this, but one of the key things is that you know even with 2.0, it will not provide enough scalability and so uh again.
Polygon has a ton of potential use case to tackle here. It’S not like. There’S one itsy-bitsy problem and that’s all it can solve and then that’s it there’s a lot that it can do, there’s a lot that i can contribute and, besides fundamentally, why it’s so important or so bullish.
Technically, it was also in a very good structure as well. So again, that’s one of the reasons i’ve been talking about polygon for months now and it’s one of my biggest holds.
Because again, i try to put my money in things that i think are valuable, absolutely the opposite of putting your money into doggy coins and um yeah.
I just see you know. I just think this is a very good application. Ethereum has cornered so much of the market and if something can come around and help ethereum do that both of those things are set to absolutely moon and that’s kind of the uh k5 baby level.
Understanding of why i think polygon is good, but as well before we jump into more bitcoin price.
There was this exact article last year and the author sean williams. I remember reading this exact title article last year, it’s a different article.
It’S an updated article with the same title that he posts – i guess he’s probably going to post at the end of the year, every year, uh by sean williams, talking about bitcoin, why i won’t buy bitcoin, but what’s funny here is that last year he was talking A lot of trash on it and um he did highlight in this updated article posted today saying, although bitcoin has proved me wrong over the past year, and then he linked last year’s article, which again is the same title here.
But it’s from last year, uh, basically saying he still suggests people avoid it and i’ve read through the reasons. None of them are interesting or necessarily thought provoking.
However uh, it’s just important to note that you know all i see of this is uh some guy who’s. Probably to be changing his tune over the next five years and saying wow, i can’t believe i was writing these silly articles.
I or maybe he’s already invested and he’s just writing these because it gets clicks which, let’s be honest, that’s probably the only the only reason he he probably is invested in bitcoin and um writing. This article gets enough clicks to help him buy more bitcoin. So that’s!
That’S what i’ll take away from this article, but looking at bitcoin here, a potential back test is 21 days exactly what we need. We spent a few days testing right underneath got to break out above it.
Now we need that retest, which again will also be exactly where the top of this uh descending broadening wedge top is top support or top resistance turn potentially support right around 48.5 000 us dollars and again, obviously, every day that goes by it goes a little lower Because um, it’s descending but yeah for bitcoin again, this is exactly what we need to see on the weekly. We have just hours until we get a weekly candle.
If we get this weekly candle to close anywhere above 48 000 – that’s beautiful! Okay! As long as we can get a weekly kindle close in just a few hours above 48 000, that is exactly what we need, because, again, i’m not going to keep repeating myself, but coming down to this 50 week. Holding here is just so important. We’ve gotten a really nice bounce.
We can get a close here. That’s just one really good step forward for cementing that um with bitcoin and again in very tricky territory. Right now, but uh all is well right.
Now all is well and the fact that one of the top ult’s just set a new all-time high again it’s showing that there is at least some strength in the market, especially with coins that uh fundamentally do something the longer that you’re in the markets. I think the more frustrating it is to see things like doggy coin 69 and doggy coin 70.
Doggy coin 71, do well: okay, because they’re useless. Okay, let’s just be honest, i know, there’s probably some people saying oh shiba coin’s going to change the world or whatever, probably not so you get a new channel, jimmy’s, absolutely time-centered alerts as well.
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