"Did we already have "mini-bubble" this year?" by trader frisby — published July 27, 2014

TradingView

Go PRO

Bitcoin / U.S. Dollar (BITSTAMP:BTCUSD)

BITSTAMP:BTCUSD Bitcoin / U.S. Dollar

Just a bit of playing with charts, could be quite possible and reasonable, chart dynamics looks very similar to november 2013 bubble. Could this be it?

We just finished falling slalom and now went a bit down. More down coming and then failed push-up following more down?

You are the first person I found who came to this conclusion (which I had on Friday, July 25 - but didn't publish so far, because it would be very very sad for Bitcoin and could mean the end of the entire happy multiple year long uptrend).

Sadly you can find multiple indicators who show this. Either we get enough momentum very soon to get another all-time-high, or people are not interested to buy Bitcoin at the current prices and Bitcoin slowly bleeds out (I hope not).

Green scenario and red scenario in one weekly chart with RSI:

The downtrend took longer than usual and we broke out of that, so I'm expecting the uptrend to take longer as well. It hasn't even been a full year since the last one yet.

It's not really a bubble if we don't make an ATH.

MoonTrader

Everyone expects bubble every half year or one year, so there wasn't one in this time so I named it like so - I didn't mean the real bubble.