darobsta
Short

Bitcoin - Please... not like last time!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
A slightly revised version of my previous idea (linked below). It goes to 2.8k :-( :-/ :-| :-)

Basically the same as my last idea, except I thought I would throw the 2016 channel in there. Strangely, the lower trendline of the channel matched my "low mean" almost exactly. Hmm.

I zoomed in on the 2014 decline from top and it's interesting to look at how the price was bouncing off the death ray initially as resistance, and then as support,.. but ultimately followed it all the way down, until the market was satisfied.

Peter Brandt tweeted today that most of the time parabolic advances end with an 80% loss when the parabola is violated, so he puts the low at under 4k somewhere.


Comment: new idea :-

Very nice chart. Not fun but realistic. The "low mean" is a price in which bitcoin will be seen as boring again. I think it might be time to start preparing for a long crypto winter. Last time I hardly followed btc for 1-2 years. just hodled. Time to stop looking at charts soon.
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darobsta Johnsdad
@Johnsdad, yes, a break from the charts might be on the cards. I think that might actually be quite relaxing!
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@darobsta, Hehe yes, I would find that also very welcome. And as a bonus, one can buy pretty cheap coins in 2019 before the next mega rally unfolds.
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darobsta FlaviusTodorius67
@FlaviusTodorius67, yes exactly. There should be plenty of time to accumulate
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