BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Looks like an upward triangle. Looks like, this one will take it's time to complete, too.

The triangle may even breakdown and extend into a longer period, but I don't see a big correction yet. FOMO looks strong right now, so I expect some more growth.

Would I buy? Well there may be a 30% correction. But, considering lots of buyers wait for this correction, it may simply not happen :-) This is typical way how the market puts people through maximum pain :-)

If one intends to buy and hold for one year (approximately that much is needed for this bullrun to reach its peak), 30% drop is not that difficult to stomach beacuse one can be absolutely certain, that in following months the exchange rate will climb back up and much higher.


Nice thinking, might not be far off.
+1 Reply
@sonics, Thanks for the response. Good trading :-)
Excelent comments and forecast. ;)
@mvogel13, so there really is someone reading my analyses? :-D Thank you.