BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Cycle by cycle
I'd love to be your broker.
+1 Reply
Highly interesting! Your chart represents exactly my thoughts. Makes a lot of sense that bitcoin behaves at the moment like after the 2011 bubble. After all, we had a huge increase in 2013. Takes thus more time to deflate, but the network keeps growing and growing, just look at the number of transactions or wallets. 2014: the year of bitcoin network growth, 2015 will thus probably be more akin to 2013 with large price increase.
I hope so!
16k btc would be brilliant.
How did you come up with the next smaller bubble peak around early February 2015? Because that is where my Fibonacci time zones see a turning point:

- long time-frame Fibonacci time zones

- medium time-frame time zones (zoom out to see the light blue time zone no. 5)
You mean bear trap?
Muwa MoonTrader
The rise from 400 to 680 last spring was a bull trap.
+1 Reply
I don't know what you're seeing, but both of the places you circled on your chart look like good places to buy if you're right. That means they're bear traps. I wouldn't really call the rise from $400 to $680 a bull trap since the price has barely gone below $400 still, and according to you, it's about to go up.
manbearpig MoonTrader
Do you know what a bull trap is? Most of the bulls bought in at 500 and above up to 680 after seeing the rise from 400-500.

Given its now <400 some of those bulls have lost a far chunk of change (if they continued to hold). Hence bull trap.
CaseyDetrio manbearpig
Then the bull trap should be confined to the $500-$680 time range. The first bull trap should be right at the $30 peak of 2011, and maybe another one right at the $7 peak of January 2012. The $2 bottom in between is a bear trap, *not* a bull trap.
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