See chart for ideas. If it breaks 4k resistance watch log downtrends for profit taking.
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Looks like quiet accumulation is not on the cards :(
I'm waiting to see how this develops, I hope it doesn't go much higher otherwise I will start to turn long-term bearish.
MT.GOX custodian has some 150k BTC and 150k BCH to distribute soon and there is still a further 600k BTC outstanding. In addition he has admitted there is not enough fiat in the pot to pay creditors + he is trying to claw back funds from Mark Karpeles. This hasn't gone away and has always been in the back of my mind.
If the above scenario is correct, I'm sure we can break 6k but I fear history repeating itself.
This looks nothing like the fractals that have dominated BTC since the beginning, unless you expand the correction cup as shown.
I still have Bitcoin so target for me is provisionally 5800 to 6400 dollars. But I'm not happy about this at all.
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Click the chart, press play.
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It may just be coincidence that the above chart fits the price development so well, after all it is weekly. It may be that the fractals will unfurl themselves something like this
If they had changed completely, that would be interesting.
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And here is a log version (from Jan 2019) of the above
@longmoney, serious about what? leaving barclayjames? :P
RealMcafee
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@volmaandcan, wish you would just unfollow me :(
UnknownUnicorn4034582
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@barclayjames, i can't i need to see more unconventional charts
Poukitoun
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IMO fractals are hard to pinpoint in long scales of time, I'm more watching the evolution of moving averages. I still believe we are accumulation zone for at least another 6months. Once Bitcoin goes above the weekly 50MA I feel that that will be the start of the bullrun.