Once again, I'm not a Bitcoin guy per se. But I am interested in it in a sort of academic way, as a spectator really. I have a super-bearish bias on the markets as a whole right now and I expect a deflationary depression (possibly followed later by an inflationary period).
I watch Bitcoin simply so see how it will behave during the ongoing market crash that I am expecting.
I don't like what I see on the chart. It looks super bearish to me. I see a local bear flag and a rising wedge. All I'm saying is this: for the Bitcoin HODLers out there, be very careful and do not invest anything you cannot afford to lose. If you review my other posts on Bitcoin, you will see a larger timeframe analysis. All of this local bearish activity is occurring in a more intermediate bear flag. (The upshot is that an even longer period timeframe shows an even larger bull flag.)
If those prove to be correct, Bitcoin could fall pretty far, but then later shoot up very high.
I watch Bitcoin simply so see how it will behave during the ongoing market crash that I am expecting.
I don't like what I see on the chart. It looks super bearish to me. I see a local bear flag and a rising wedge. All I'm saying is this: for the Bitcoin HODLers out there, be very careful and do not invest anything you cannot afford to lose. If you review my other posts on Bitcoin, you will see a larger timeframe analysis. All of this local bearish activity is occurring in a more intermediate bear flag. (The upshot is that an even longer period timeframe shows an even larger bull flag.)
If those prove to be correct, Bitcoin could fall pretty far, but then later shoot up very high.