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RE: Bitcoin Technical Analysis follow up - More charts & two possible predictions (Flash crash in August?)
hi- just found this post, I commented on a more recent one you made but I think they both have a similar view which is interesting. There is a probability of a bubble, but whether or not it plays out like the previous one is hard to say. From what I see in my chart, it could happen if we break the green trendline and hold below 2100 area. If it breaks the upper red line, then we might be looking at testing the ATH. The compression is significant, we will see a major move coming soon. Up or Down? We do not know yet . I find your analysis in contrast to mine, which is helpful since we need different viewpoints to keep ourselves in check -cheers
Hi thanks for this. To me the bubble is very clear & I really believe the price will correct. But in the case of bitcoin the bubble is not as blown up comparing to other cryptos, so I believe cryptos will crash very heavily while bitcoin could have more of a soft landing. If the price breaks up your red resistance line I think we will be consolidating around there, I don't think we will test ATH again. But let's see what happens. I'm personally ready to sell the rest of my bitcoins any time. I will keep only one cause I love Bitcoin so much to sell them all :P but I expect to buy them back for cheaper sometime later this year. Fingers crossed!
Yep anything in trading is possible. Yes a lot of cryptos charts will end up with the 'Eiffel Tower' pattern if you know what I mean. Possible that BTC consolidates higher. But bear in mind bubbles can last longer than you think, and IF there's any major world event and fiat currencies take a hit because of the stock market bubble, it may impact on the price of BTC. Good luck on your BTC trade, can always keep a little bit and not sell it all unless you bought late. Currently I hold a small position short on ETCUSD. If it lasts more than day at the levels now I will be covering.
I've learned not to predict the future. As traders holding a strong bias can hurt more than not, so it always helps to remain neutral with a small bias in case things change and you get stubborn trying to prove yourself right. Maybe I haven't been checking the bitcoin tags often (I am in my own bubble lol), but is good to see interact with traders and not HODL investors as you often see in this platform. I have a feeling, I might be wrong though, that long time steemians don't want to hear people saying things can turn south and when that happens run for the hills. They've stuck around when steem went from $4 to $0.12! Seen the good and bad, so post like yours won't be popular :). Trading is not popularity contest.
Well, I see you don't follow many people, it would be good if you add me to your feed but don't feel obliged to -cheers.
Hi thanks very much for the thoughtful comment I really appreciate it. It might seem I'm a trader but I am not. I acquired my bitcoins and alts around four months ago and I've hodled all this time. I only traded LTC & NEM once, to grow my BTC hodlings. But I do not trade normally, I'm only selling now cause I can see the bubble very clear so I'm expecting to buy back in for a lot cheaper and hodle again til the next bubble. I will check your blog right now mate :) Cheers!