It's unlikely Bitcoin will spend very long up here near the ATH 2.59% . The 235 day cycle is coming and is in range currently on the 16th, so if bitcoin will get a reversal it will be here.
However, if we see extended consolidation up here in this range below but near the ATH 2.59% , it shows weakness in sellers. Similar to December 2012, September 2013 and March\April\May 2016. It could spend many weeks there if it is a bullish resolution before breaking out.
Time will tell what the resolution is, but this will be a big one boys.
Continuing my usual trend of generating ideas where it can go either up, or down, so I can always look back in hindsight and say I was right :). Cheers all
הערה
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Wow. $2600 out of $4000. Surreal.
Really extended right now, we'll see where this blows off at.
הערה
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Current chart.
הערה
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Weeee, pullback a few hours after I update this.
Only a 18% pullback in the scheme of things, this market is incredible. The volatility is amazing.
Wanna buy the dip? Trend is your friend until Margin call.
Continuing my usual trend of generating ideas where it can go either up, or down, so I can always look back in hindsight and say I was right :).
I was right. There. Ego. Go.
תגובות
electo
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Legend.
ju5tin
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BTC now at 1115 and the bull is confirmed.....
I have 2 questions id like your opinion on....
1- Did the PBOC decision delay/pause the 235cycle (in years gone by this would of tanked the price 100s of $) ??
2- A BTC ETF is inevitable its almost a prisoners dilema for USA/others now as its be the first or watch someone else take over? agree/disagree opinion
1) In hingsight, the ETF delayed the local top up there. I don't think pboc had much to do with it. Was a mostly isolated incident (unless you were on quarterlies lol)
2) The US is what matters though, so many people in america. I think Europe is the only other major competitor where a product like that would have a big impact.
Enhancement321
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$10,000 BTCUSD! $50,000 BTCUSD by the end of next year.
kenzboard
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thanks bro. been following your ideas since i started trading in 2014...just after the last bubble top. have made out the last couple years quite nicely because of the great charts and knowledge you've provided. #highfive @kenzboard
We've hit 4k plus now, what is your future target for the downside as far as the price/ length of a possible bear trend?
lowstrife
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@Tanner, 3100-3200 is a nice local support if we were to top before 5k. If we continue higher, I dunno. This leg we're currently on has had zero retrace, so there is no indication of where the liquidity lies. It's gonna be savage once this thing rolls over.