BTC Outlook Strong, Past performance doesn't guarantee future...
results, but it does give an indication of what might happen next.
Let's review some historical facts to see what we think bitcoin might be up to.
This is the 1W chart.
2013-2014 BTC Bubble
The last boom and bust BTC rocketed 800+% and the subsequent bust was ~82% and took 406days to reach bottom. It stayed near the bottom for ~266days.
There is usually large volume at the bottom approx 2x.
I've been saying before this recent dip when we were in the descending triangle, there wasn't a large volume movement to break out or drop through the triangle and only when that happened, we would know one way or another.
Current bubble
Depending on where you start the momentous rise, we rocketed over 800+%. This bust is currently only 70%+.
Here are my personal opinions, not trading advice.
We are close to the bottom, but not quite there yet but I think it should happen by the end of the year 2018.
Sell off volume needs to be significant (could be this week if we have huge volumes this weekend)
Volume will be my primary indicator.
Long term - Any buy would be good right now but save some cash to buy more if it goes down. We are near the bottom, so this is not the time to sell or short, the upside potential for a short is minimal and your timing has to be perfect.
Short term - Anyone's guess.
For you alt-coin traders, don't expect any real decoupling from BTC until BTC has hit bottom. No one wants to buy an alt-coin because of the BTC fear. So Hodl!
Let's review some historical facts to see what we think bitcoin might be up to.
This is the 1W chart.
2013-2014 BTC Bubble
The last boom and bust BTC rocketed 800+% and the subsequent bust was ~82% and took 406days to reach bottom. It stayed near the bottom for ~266days.
There is usually large volume at the bottom approx 2x.
I've been saying before this recent dip when we were in the descending triangle, there wasn't a large volume movement to break out or drop through the triangle and only when that happened, we would know one way or another.
Current bubble
Depending on where you start the momentous rise, we rocketed over 800+%. This bust is currently only 70%+.
Here are my personal opinions, not trading advice.
We are close to the bottom, but not quite there yet but I think it should happen by the end of the year 2018.
Sell off volume needs to be significant (could be this week if we have huge volumes this weekend)
Volume will be my primary indicator.
Long term - Any buy would be good right now but save some cash to buy more if it goes down. We are near the bottom, so this is not the time to sell or short, the upside potential for a short is minimal and your timing has to be perfect.
Short term - Anyone's guess.
For you alt-coin traders, don't expect any real decoupling from BTC until BTC has hit bottom. No one wants to buy an alt-coin because of the BTC fear. So Hodl!
Comment:
Here it goes $3900... where it stops nobody knows... but if this is big enough I believe it will be bottom.