...on the monthly picture we never were really bullish this year.
Look at my previous charts from summer:
and
Although the chances were increasing a bit towards bullish in the last weeks, I never went past neutral. Neutral was the best I could get out of this market.
And now, we are back on track, back on track for the good ol' cheap coins in 2019 :) I think the low will be in the 3k area.
I will start buying in January 2019, and continue for the whole year, every week. Buy when the sheep are panicking :) Best indicator by the way, when the stupid mainstream media start writing their idiotic articles "bitcoin is dead" "bitcoin: game over", etc. That is the best time to buy, and I think this will be next year, because remember, the halving in 2020 is coming. And then afterwards BTC will hype again.
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Also take a look at the transactions, I think they are a rough indicator as to when the next uptrend starts:
you can see that an uptrend in price started only after the daily transactions (excluding popular addresses), went past the previous all-time high in transactions. I marked that point with a red arrow. Every time really, the price followed not long afterwards.
This time is very similar. When we'll top 400k daily Tx, we'll see BTC reverse and pick up steam for the next rally. This might happen in late 2019, early 2020.
So, I was right about Short yesterday - and agree with it now! Check, please, I have updated my idea - think about distant marks near $3,500:
What do you think about it?
SebastianofMoon
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@AlexKuptsikevich, I think that it's an excellent idea, thanks ! You were right, yes, glad to see some sensible people here on tradingview, that have a feeling for BTC, even if this sometimes means to be the bringer of bad news :)
tviewcrau
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You were one of the people who helped me zoom out and take the bull-goggle off, thanks.
SebastianofMoon
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@tviewcrau, Glad I could be of help :) That motivates me a lot, thanks !
pkb6698
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Total Coin Market Cap (2) : 2014 vs 2018
I think this drop is a pedestal for future rise.
What do you think about it?