Pay attention to that long pink trend line. If Bitcoin manages to dip below that line (and I believe it will), we will be in for a substantial drop. It may only drop to the light blue line, or it could drop to or near the bold yellow trend curve. Either way, we may see a slight increase in price in the short term up to the top of the triangle (orange line). But we will see a big drop incoming.
@mightytrader, I agree! I think we could possibly even dip below it. Possibly as low as 1.8k (WHAT!). If I can get Bitcoin at that price again, I will sell most of my belongings. I'll just learn to live the minimalistic lifestyle and buy new stuff later;) Nothing but upside potential after that.
mightytrader
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@Cryptical_Thinker, NO NO NO. That is gambling. Honestly, you should be completely indifferent where the price goes. Even if it goes to 1million (it's not; not anytime soon).
I would say... if you want to invest in Bitcoin.... Then buy just 1 and hold it. And 10k better be 1/10 of your total cash assets.
If it goes to 3k... then buy 2 or 3 BTC.
If it goes to 1k... buy 3 or 4.
At the end of the day, it's BETA software. And it's worth anything, IMO.
It has use cases... even for money and transactions.... but I am no investor. MY ONLY REAL interest is selling it to a Greater Fool.
And I just covered my short position. I will wait for another rally to short again. If it just totally dumps though and I miss the move... I'll laugh and say... "Oh well..! Can't win 'em all! =D"