Bitcoin is in a bubble. Obliviously. Speculation entered a market in its infancy and the price skyrocketed. This isn't the first time, and it won't be the last. Now, on the weekly log-scale, we can see it's nearing the end on this cycle. This low volume rally isnt enough to keep it alive so take profits if you can or "HODL" for dear life because its a long way down. There's a very long trend line that it needs to touch again before it can make a new all time high. That trend as seen clearly is the longest running trend there is. It will hold btc, but the longer we keep mess with it, the longer it will take to correct. Based on the current trajectory, we should bottom out in mid-September. Approx $3400. I don't expect a huge surge when we hit that line but big banks are watching now, so it's possible. This winter, if we're lucky, we can start a new cycle for all crypto currencies. So with that said, lets put on our macroeconomics lenses and make the right choice. For yourself, and for Bitcoin.
With Love,
No_L
With Love,
No_L
