After great hypo into end of year (and after many warning about unexperienced buyers buying bitcoin or any other cryptos with their credit cards, time has come for much needed correction, and for weaker hands leave crypto mania), BTC could repeat moves that we saw from Ripple or ETH action from June to November, in which, after, in that time, massive gains for two crypto, we saw first major correction and building solid support, and resistance, and trendlines that were respected and gave good buying price.
After BTC shake of newcomers and panic buyers/sellerrs, BTC will create support zone, that we will make good buying opportunities, first of which is first blue line, the old trendline that we already broke after hypo buying few weeks ago. My guess is, we should see first bounce up once BTC price drops to first upper blue line, and that should give us nice price to enter long.
In worst/best case scenario, if first blue line dont hold as support, that should give even better price to enter long for BTC.
My personal view on crypto, is massive bubble in making, but if it is making money for me, I wont be silly not to be part of it. Never invest more than you can afford to lose, and wish you all merry holidays and Christmas to those who celebrate it.
Agreed on the bubble. I think anyone that thinks otherwise is delusional. I think we're 6-18 months from the collapse though. Let's keep in mind that most Americans that saw this on the news can't even buy yet due to exchanges being so far behind on customer verification. They'll be buying in droves Q1 2018 and it'll be time to reevaluate where we're at in the bubble at that point.