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RE: BTC Technical Analysis

in #bitcoin6 years ago

Technical analysis is great, I appreciate the work people have put towards the trending data. The thing is in my opinion, the data in this case is less important than the overall story in this crazy dynamic we have currently going on. Bitcoin is much more of a curiosity play and a conviction play to many that are now jumping off the sidelines. There is good and bad to that, the good for pro Bitcoiners is that there are a lot of people who like making money and they really don't care how they make it. The bad new is that this has had no institutional input on its way up and now that it does, any financial resource that has gone straight up has a giant bulls eye as far as short sellers are concerned. I am VERY BULLISH when it comes to Bitcoin in the longer term I just think it is going to take a bit of a thrashing in the short. Thanks again for the high quality post and response, it's greatly appreciated.

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Cheers bud , Yeah it got overextended really quick really fast.I think this will be a very healthy correction almost 30- 40 % down from the highs which is good in the long run .I am bullish on BTC long term as weIl looking forward to 2018, it's always better to buy on the way down and in batches rather than buying all together .

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