Bitcoin will be soon making pivotal long-term decisions; the journey that began in 2012 is coming to an end, lads. For the big screen, in a couple of ways.
I've had this one lying around for quite a while but I thought now before the big red rendezvous with the golden line is a good time to publish it, without a subsequent vast amount of inquiries about my mental wellbeing.
I agree with this: "the journey that began in 2012 is coming to an end"
But the price won't fall this fast. If the $400 price support area doesn't hold, then Bitcoin will very slowly decline like Litecoin did from $40 to $4 (so far) over a even longer period of time. And I think it will stop at around $100.
Here is my "future outlook". It seems we are getting back in the old downtrend channel.
Certainly something to consider, the up-cycle might just indicate one more important bottom like it did in February; the real bottom in turn could be at the next down-cycle (15th May 2015), the irregularity (oversold instead of -bought/sidewards) confirming a reversal at large.
Even though I wouldn't rely on a support line formed by a news-induced flash crash low, this time+target complies with the crucial 2y pitcfan (which is strong!):
yomofoV
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i like your charts, very impressed. you should do youtube videos explaining your time fibonaccis.
frisby
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The only question here is who is paying you to publish these charts. Nice FUD.
HerSerenity
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1. Getting called a professional for something I'm doing for 20 days and pure fun is a high honor, I guess. Thanks!
I'm a perfectionist and creative head, spent around 6 hours on this idea and made over 30 private chart tests.
This work also helps me to improve my personal analysis because it forces me to overthink everything twice so as to not lose that tiny bit of my reputation on this site.
2. As you can see from the title (or not, due to lacking badge or biased view), this is a neutral idea with two possible scenarios, the one I think is more likely being worked out with potential turning points included.
This chart is also more about the (to me) fascinating fact that these two parts of BTC's history seem to fit astonishingly well in there, without any trimming/stretching applied.
So, please provide constructive criticism or keep your one-liners on reddit.
3. I believe in what I publish (i.imgur.com/QFQlfqv.png), and so far it turned out as one pretty darn good decision.
I see Bitcoin as an easy, predicatble way to make fiat money. I do not care about its future, my knowledge about it is limited to roughly a fifth of the Wikipedia atricle. That might offend you or not, but as long as you can't provide anything intellectually useful to my ideas: you are to me, in terms of caring, not any different from the technology us two seem to like in very different ways.
MarvinMartian
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I like how they call this FUD, when the almighty BTC broke all kinds of support in the span of 12 hrs. My chart was FUD, 4 days ago. Now it exists and only has one more support line to break.
But the price won't fall this fast. If the $400 price support area doesn't hold, then Bitcoin will very slowly decline like Litecoin did from $40 to $4 (so far) over a even longer period of time. And I think it will stop at around $100.
Here is my "future outlook". It seems we are getting back in the old downtrend channel.
tradingview.com/v/z3OJifLX/
And my negative outlook with lots of charts in the comments:
tradingview.com/v/7mPxsnSP/