Houston, the rocket has lifted off the launch pad

anonymint (65)in #trading • 6 years ago (edited)

Below is the same chart I’ve been publishing here on Steem since February. I think it is self-explanatory and it bottomed where I predicted it would.

click to zoom

I’m not 100% sure the lowest is behind us at $5850 in February, but the odds are increasing. I’m still confident Bitcoin will attain ATHs again by no later than Q1 2019 and probably before the end of this year.

EDIT 3 days later: price needs to break out above the overhead resistance downtrend line shown before I will be confident we’ve bottomed. Here’s an updated chart:

click to zoom

#bitcoin #money #cryptocurrency

6 years ago in #trading by anonymint (65)

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jesseluther (45) 6 years ago

Apparently we broke this earlier.

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1 vote

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anonymint (65) 6 years ago

You mean the lower the downtrend lines? But as of now, we have also broken up through the upper downtrend line.

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anonymint (65) 6 years ago (edited)

Drop was apparently driven by news of four major exchanges being probed by the CFTC.

Appears this triangle will close by August. The lowest we can possibly go is $3000, but looks like we’ll stay above the $5850 level and break out to upside of the flag triangle by no later than the end of August and at the earliest the end of June.

See also my comments at `bitcointalk.org.

Log BTC chart:

Linear BTC char:

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cryptoindex (52) 6 years ago

You Learn More From Failure Than From Success. Don't Let It Stop You. Failure Builds Character.

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2 votes

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motai (48) 6 years ago

This slump is good as it showed the inventors that Bitcoin is not invinsible, we all need to put the best efforts to make it last forever and keep it heights.

But investors should be informed of everything regarding the cause in rise and drops of value of Bitcoin

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1 vote

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rajsallin (27) 6 years ago

Any updates on the bitcoin price Anonymint?

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anonymint (65) 6 years ago (edited)

Essentially I’m thinking (and Armstrong and others have mentioned) likely bounce in July or August, but it is uncertain after that whether we go lower to $3000ish or head upwards for an ATH in early 2019. The two scenarios both seem possible, but maybe I’m leaning more to the bearish scenario now.

https://bitcointalk.org/index.php?topic=4462571.msg40774015#msg40774015

As for the bottom this week or in July, I’m thinking $5500.

Note to avoid SegWit theft it is only necessary to convert to legacy addresses:

https://bitcointalk.org/index.php?topic=4433000.msg40418200#msg40418200