Another thing to note is that OKCoin quarterly barely retrace in relation to the spot price and the smaller time frame . I interpret this is as the longer term investors (quarterly) see a bright future and are reluctant to sell.
news includes the 21 Inc. investment and obviously the upcoming BitLicense and Winklevoss .
Comments and criticisms are welcome!
Yeah, this has pushed my support line down a bit which in turn has pushed the point of the candle, the possible 'launch date', to the 24th of April. This, however, means that the two triangles now come to a point in the same place unlike my previous chart. So, even though the date is further away, there is more certainty to it.
My only worries are the high Williams % Ratio SMA (light green line) and the MACD crossing over (both on the daily charts). However, a similar thing happened in the triangle which I compare this one to at the beginning of the 2013 bubble. There is definitely room for a little bit more down though. In fact it's happening as I write this.
I'm still pro-bubble though.
However, quick look shows that, on a linear chart, we came up against the long term support line and obviously failed to break through.
Looking at my 'Pre-bubble indicators' chart, it doesn't look good either; the MACD histogram will close lower unless the price corrects this week so it's not looking good.
On another note, it's only 3 days till the BitLicence comment period is over.