This is purely speculative and educational.
I am not a professional trader, just a plankton swimming in the ocean.
Zooming out of the chart, it appears a cup and handle has been forming on the BTC/USD graph. Cross-referencing data points from other charts that indicate bull pattern breaking the trend line seem to correlate. This can always be proved wrong due to Bitcoin's volatile nature, however in light of recent excitement during December and January's massive volatility eerily rings similar to September 2017 rather than the Mt. Gox catastrophe in 2013.
In 2013 there was a rebound of almost equal size to the market nosediving. This huge rebound was caused by overly excited bulls and eventually spelled disaster when more news came out about millions of dollars worth of bitcoin being lost (or other theories). September saw a huge drop from all-time highs of 5k to 2.8k due to Chinese regulatory bans. More regulations are currently in the works of being passed, but as we've learned, regulation doesn't hurt Bitcoin the same way it does a stock.
I'm optimistic as we approach 2020 when bitcoin block mining rewards halve. More whales and dolphins are preparing for these upcoming volatile events. When in doubt HODL but expect a bull market this 2nd quarter.
I am not a professional trader, just a plankton swimming in the ocean.
Zooming out of the chart, it appears a cup and handle has been forming on the BTC/USD graph. Cross-referencing data points from other charts that indicate bull pattern breaking the trend line seem to correlate. This can always be proved wrong due to Bitcoin's volatile nature, however in light of recent excitement during December and January's massive volatility eerily rings similar to September 2017 rather than the Mt. Gox catastrophe in 2013.
In 2013 there was a rebound of almost equal size to the market nosediving. This huge rebound was caused by overly excited bulls and eventually spelled disaster when more news came out about millions of dollars worth of bitcoin being lost (or other theories). September saw a huge drop from all-time highs of 5k to 2.8k due to Chinese regulatory bans. More regulations are currently in the works of being passed, but as we've learned, regulation doesn't hurt Bitcoin the same way it does a stock.
I'm optimistic as we approach 2020 when bitcoin block mining rewards halve. More whales and dolphins are preparing for these upcoming volatile events. When in doubt HODL but expect a bull market this 2nd quarter.