I'm just drawing the expectations of people, not suggesting 1. the starting last dead cat bounce since the trend broke several days ago. nor 2. the bull trap / "back to the channel" neither 3. a third iteration of bitcoin Banana which would just be an evil shakeout. Who dreams of rotten, moldy dust clouds?
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Not all wedges are obvious
I cant recommand, this, but may the journey for the bulls be at least as fun as travling through rotten banana stem can possiblly be after all it could be their last trip in a while.
Disclaimer: I want to sell my last left bitcoin above $4000 ;)
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btw. If you are dreaming of the bitcoin price to multiply more times and in 2017, then i recommand moving your mouse pointer in and out of the little black cloud. To activate the flash. May it calm you.
we are now at the top of a dead cat bounce, probably resulting from traders thinking theyre getting a bargain which as dragged up the price slightly, i think the real bargains are yet to come.
fineregex
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@mooneymoonman, were you watching a tiny timeframe? couldnt see it in my chart
RBmooney
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@fineregex, scaling it to the chart above it does appear to be tiny. Are you expecting a ~$500 surge before it drops to under $3500?
fineregex
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@mooneymoonman, no, the 3 dead cat bounces are the 3 little red bows. so far it works. It is easier to assume the third one will fall as far as in july but not sure it should increase much more at all.
RBmooney
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@fineregex, thanks. The total market cap is well down from its ath also, until more money flows in i dont think BTC will be going back up for a while.
fineregex
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@mooneymoonman, as do i. But the market makes use of fear, rational and irratonal ones if they are common. The price always moves up and down. Continuing speed of falling the last $500 is not necessary. Then bitcoin would be at zero in two weeks. Half in 1 week. It may go to less than half but there is a time mostly always. If you just give it 2 weeks you already just need half the speed.