My view on where bitcoin is going

Long Term bullish but we need to return to the mean and NVT shows we are still way overvalued.

Comment:

I believe we are currently on a bullish retrace and will test resistance between $7,110-7,500. Alts have been crushed and will fuel this rally like back in April. Then alts will get further murdered on the next lower low. I am a hodlr, not a trader. I work 12 hours a day 7 days a week. I buy and hold. Bitcoin is rekt for the foreseeable future until I would assume February 2019 at the earliest but my bet is still on a long bear market/flat sideways period until end of 2019 or 2020, plenty of time for bitcoin to be deemed a stable currency with low volatility. And time for all of the alts to deliver on their roadmaps. Mass adoption craze will be next and bitcoin will go to $60k, that will be new resistance, then continue bull market to $300-500k and beyond that no one knows. Bitcoin either moons or completely fails, my bet is on mars.
End of 2018 and beginning to all of 2019 should be a good time to accumulate crypto IMO and this is my plan.

Comment:

Damn I called that top well.

Comment:

looks like we may drop here shortly to the low $5,000's. BTC has defended $6k all year. I am excited for accumulation. I think we will see bitcoin bottom at $4,200.