Well, we have entered the bubble territory. Note the candles are weekly so days of consolidations wouldn't show up on previous run ups. Div broke to the upside as suspected. I added one more diagonal level that seems to be respected to the chart. There is absolutely no way to tell how high this can go.
Fundamental brain dump:
Average and median bitcoin fees are going up rapidly as network usage increases pushing out transactions of less importance (just based on smaller fee alone, nothing else). As blockchain limits are pushed BTC cap of ~3 tx/sec is being tested while popular alternatives seem to be ltc at ~12 tx/sec and eth at ~15-25 tx/sec are increasing in fees as well and pose little advantage. Scaling solutions like segwit do little and larger solutions like lightning network, raiden, rsk+ltcp are still ways away from implementation, Probably due to lack of marketing, chains like steem (10k+ tx/sec, no fees ever) and bts (10k tx/sec, tokens, dex, pegged tokens) who dominate the daily transactions in crypto ( http://i.imgur.com/HWkc33O.png ) are largely not known. I suspect due to lack of known and accessible scaling solution in alternatives and lack of tech-stable alternatives to bitcoin it has a chance to bubble still higher. If one of the scaling solutions is implemented it could shift the dynamics of preferred choice for micropayments and scale with https://en.wikipedia.org/wiki/Metcalfe%2...
Long story short, anything can happen. But under premise that charts drive the news, I'm not calling tops and merely watching for lower lows, breaks in channels and trendlines to find weaknesses, and re-entering on higher lows on at least daily time frame.
1) ledgerx https://www.coindesk.com/start-hedging-l...
2) segwit passes, enables lightning networks, drivechains, sidechains like rsk giving capability of eth + scaling lumino/ltcp, confidential transactions, mast, atomic swaps, tons more
3) SEC ruling hurts much of alternatives like eth, and eth in potential legal trouble since they ICO'ed and possibly manipulated a security. BTC not affected by securities laws as it was never sold to raise money and mined by anyone from 0 without expectation of profit.
4) btc-e downward pressure from money laundering removed
5) bcc in news seems like distraction since already clear they are just using bitcoin snapshot for their altcoin like others have and tried to do before. not sure if calling it hard fork is publicity stunt or lack of technical understanding
close to bottom of even older channel.
strange enough top is literally near ~ 1,000,000 usd
not enough bitcoin's for even 1 millionaire to own 1
trends can break pretty easily. no guarantees. but wouldn't be the most surprising change % wise.
i give up
position still open from earlier, another entry short marked if stopped out of this one.