Downward broadening wedges are bullish patterns. Measuring the possible break out for this one puts us around 25k which is consistent with measuring a breakout from the 2 year asymmetric triangle we've been in since 2017
XbladeRunner
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@dotnetrussell, But...
Don't take it seriously. I believe bitcoin is worth $ 20,000 by the end of 2020. Thanks
XbladeRunner
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@dotnetrussell, the only thing that works on bitcoin is the supertrend line..
dotnetrussell
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@XbladeRunner, I've given up trying to do any real trend analysis on BTC - stock to flow is my lord and savior. Nothing else matters until that's invalidated #hodl
XbladeRunner
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@dotnetrussell,
I hope that the world crisis is recording us..
I can't imagine what would have to happen for bitcoin to go to zero. I can't imagine what would have to happen for bitcoin to become a world currency. I'd rather not be there. Both versions are extreme and maybe a lot of people will die.
Unemployment, food shortages, dysfunctional monetary system, coup, wars.
The scariest bubble is the chart of the world's population..
Downward broadening wedges are bullish patterns. Measuring the possible break out for this one puts us around 25k which is consistent with measuring a breakout from the 2 year asymmetric triangle we've been in since 2017