1. Oil 2008,
2. Nasdaq in 2000,
3. Chinese Shanghai index in 2007,
4. Cotton in 2011,
5. Waiting list
And in every bubble ended the same way: "they all came back down sharply"
This analysis not include personal feeling/opinion, and pure base on , and historical data
Trading foreign currencies/cryptocurrency can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose.
"new paradigm" is what a crypto bull market looks like. You are lucky to get a 50%+ retracement, and now that the cat is out of the bag we may have several more "new paradigm" bubble tops in crypto far beyond these price levels.
CNBC and the traditional investment world is driving this. They keep hearing about this new tech, and they are dumping money into it at any price. I agree a big pull-back can happen, I expect one near 5k. But after the pull back happens, I expect more parabolic runs higher far beyond 5k in the future. If not BTC then ETH or some other coin. When total market cap of all crypto gets into the 1 trillion range, then I am going to be a little more cautious. Would like to see more maturity in some of the projects too.
Another one is the bitconnect ponzi. The bitconnect ponzi operators are dumping probably 20% - 30% of their ponzi holdings into bitcoin, trying to become a top 30 wallet holder of the coin. Like sure, this is a parabolic top, but it wont be the last in bitcoin's future. Parabolic is the norm in this market.
you will really need read a news not just a technical.
BTCAUD BTCCHF BTCNZD you post is an MTGOX exchange. however MTGOX is a scam, they said they got hacked and they not.
There is a bunch of news out there about this MTGOX
but as far as i know now the CEO/Chairman of MTGOX have been arrested in japan.
and i still don't know how this guy can payout their bitcoin client,
This crypto space is unpredictable. any Major and even a Minor issues it can drive the market.
in the bigger picture i see cryptospace is truly psychological. not a cyclelogical.
and yet we still need a technical analysis.
yet i still believe fundamental analysis is as important as technical analysis.
and there is no doubt you good at that.
keep up the good work !!
No heart feeling please :(