eye1
Long

Bitcoin - major trendlines and further sentiment.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Still very bullish sentiment, despite yesterday's imho very healthy correction. I am investing long term in bitcoin mostly, though I see no sense in investing further on from here. My break-even position atm is 300 USD. Majority I bought at 140 USD, cheapest at 5 USD. I will try to cash out on this bubble partially and increase my overall BTC holdings. But my feel is there is still a lot of potential for this bull run, especially after this correction. I dunno want to take to big risk to decrease my long term BTC position. I rather even miss on that opportunity. Reasons for my further bullish sentiment: China fog lifted away and gone-forgotten, positive moves on scaling issues, lot of shitcoins still need to get converted to the ones with real world value, fiat to crypto-world conversion infrastructure is getting bigger and better-> no single point of failure, major failures or events do not even slightly shake the market anymore.... Its been three and a half years since last bubble. Between last two ones it was only matter of months and multiplayer between peaks was 4. Now we are only at around 2. Although if we look at all the crypto market we are somewhere around 8. My guess is that 20 can be achieved, considering the timespan and adoption rate cryptocurrencies took. If only this bull run can be extended over two months at least.. if it will start to spike too wildly like yesterday it might be over too soon for my hopes.
Comment: Channell still holds steady. But volatility still a bit too big for my taste. It needs to settle down a bit and consolidate in narrower range. If this channels support does not holds ground, we might see significant drop down to around 2000 again. The Asian session might be crucial here.
Comment: Channel didn't hold. We have seen the drop more or less as expected after it broke and a decent rebound, but I was hoping for higher volume. Bearish sentiment way more obvious now. I will sell 15% of my position and try to rebuy it later... or maybe not... I see no major supports after this one.... And next trend channel support which started on 26th of march is way below current price... at 1800
Comment: I have decreased 15% more of position. Hoping to buy more bitcoin with lower prices. I don't see enough support and strong enough pullbacks at that levels.
Comment: I was a bit wrong how low correction might have gone, but overall my feel was right regarding that this run still has plenty to say...
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