CIpher2k

Bitcoin bubble chart updated

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
I just stretched the red curve a bit to match the actual data from April. Rest of chart is untouched since end of March.

In my opinion, this idea might be invalidated if we break 10k with an significant breakout to 11k or higher.
If we fail to break 10k here, look for a slow decline to 6k areas again.
Comment: Trading volumes are getting lower and lower. Is depression setting in?
I have about the same idea on the bottom if BTC doesn't break 10k , depending on when it'll most likely tag the 2nd green trendline for continuation
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What is your prediction about alts?
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CIpher2k serhan
@serhan, when this slow decline of bitcoin will occur, then alts will probably follow on a large scale with some exceptions. I think there might be some alts which could go against the trend of bitcoin for some time. But at this moment of time I would wait on the sidelines and watch what will happen below/around 10k.
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