A linear regression at 2 and 3 standard deviations of the last 500 days.
Trade closed: target reached:
Time to take profits.
Technically: BTCUSD has been trading in the 3rd SD range and beyond for a number of weeks, a correction to US$ 850~890 is likely.
Macro environment: the Bitcoin market withstood its ground despite the SEC's rejection of the Bitcoin ETF. However the disputes regarding a likely soft-fork (Segwit) or even hard-fork are becoming intense between the Bitcoin classic and Bitcoin Unlimited camps took its toll.
Technically: BTCUSD has been trading in the 3rd SD range and beyond for a number of weeks, a correction to US$ 850~890 is likely.
Macro environment: the Bitcoin market withstood its ground despite the SEC's rejection of the Bitcoin ETF. However the disputes regarding a likely soft-fork (Segwit) or even hard-fork are becoming intense between the Bitcoin classic and Bitcoin Unlimited camps took its toll.
Comment:
I predict a successful attack on the Bitcoin infrastructure in less than 1 year by a quantum computer chip, most likely by Google or IBM.