I am not sure which way Bitcoin will go.. but I feel it's going to go big one way or the other in the next 48 hours. Chinese new year festival ends today/tomorrow. Noticed in the local Chinese restaurant that they were having a dragon dance on the 25th signifying the end of the festival. It's a gut feeling that something will happen soon.
Things tend to happen Thursday nights, 9pm until 12:30am MST and throughout Fri/Sat around the same times and even into Sunday nights, Monday mornings (3-5am MST). I believe this weekend will be key and if we continue sideways, our next chance at seeing things change will be around Mid-March (15th based on Ichimoku cloud formations).
I also believe that in order for us to break this year long downtrend, we're going to have to bounce off the bottom and if you look at this chart, you'll see our bottom was around $168. I've been feeling $168 since before it happened, but I'm really feeling (in my gut), that 168 is a key number we need to see happen before we bounce back to 300-400 and higher.
Other charts I've made recently show the potential to push us up to 2400+ and that we are nearing that point. I think a double bottom would result in a dead cat bounce to break out of this long term downtrend, push us well over 300 and keep us moving upward over the next few months.
Just a hunch.. trusting my gut, so I've got shorts in and longs in.. shorts to the bottom, buy more and longs for the long term.
This whole sideways market has me expecting something big and soon.. but as sideways markets do, they could stretch this out a long longer, so that everyone anticipating change starts to get that false sense of security that change may not happen and we will continue to stabilize.
Bitcoin will not stabilize.. not for a long while.. At least a couple years.
Things tend to happen Thursday nights, 9pm until 12:30am MST and throughout Fri/Sat around the same times and even into Sunday nights, Monday mornings (3-5am MST). I believe this weekend will be key and if we continue sideways, our next chance at seeing things change will be around Mid-March (15th based on Ichimoku cloud formations).
I also believe that in order for us to break this year long downtrend, we're going to have to bounce off the bottom and if you look at this chart, you'll see our bottom was around $168. I've been feeling $168 since before it happened, but I'm really feeling (in my gut), that 168 is a key number we need to see happen before we bounce back to 300-400 and higher.
Other charts I've made recently show the potential to push us up to 2400+ and that we are nearing that point. I think a double bottom would result in a dead cat bounce to break out of this long term downtrend, push us well over 300 and keep us moving upward over the next few months.
Just a hunch.. trusting my gut, so I've got shorts in and longs in.. shorts to the bottom, buy more and longs for the long term.
This whole sideways market has me expecting something big and soon.. but as sideways markets do, they could stretch this out a long longer, so that everyone anticipating change starts to get that false sense of security that change may not happen and we will continue to stabilize.
Bitcoin will not stabilize.. not for a long while.. At least a couple years.