Do not think in linear terms when predicting bitcoin tops ;)
This could be the big one ladies and gentlemen!
A rally alike to the one in early 2013.
There are quite some similarities here already, for example a really nice exponential growth.
In such rallies, linear charts are utterly useless. Just ignore every linear chart you see here on tradingview, which tries to predict a bitcoin top.
LINEAR SCALE IS USELESS FOR BITCOIN IN A RALLY !!!!
And this could develop to be a really nice and long rally.
Looking at the Stoch RSI, we are not even overbought yet.
So this could go one for MONTHS !!!! It is insane, I know, and the top could be so brutally above what everyone else is expecting, that I shudder even
now as I type this XD
Just watch the Stoch RSI. If it is on overbought for about 2 months, you should start getting out of BTC.
Good luck to everyone!
A rally alike to the one in early 2013.
There are quite some similarities here already, for example a really nice exponential growth.
In such rallies, linear charts are utterly useless. Just ignore every linear chart you see here on tradingview, which tries to predict a bitcoin top.
LINEAR SCALE IS USELESS FOR BITCOIN IN A RALLY !!!!
And this could develop to be a really nice and long rally.
Looking at the Stoch RSI, we are not even overbought yet.
So this could go one for MONTHS !!!! It is insane, I know, and the top could be so brutally above what everyone else is expecting, that I shudder even
now as I type this XD
Just watch the Stoch RSI. If it is on overbought for about 2 months, you should start getting out of BTC.
Good luck to everyone!
Comment:
What a rollercoaster ride :)
It seems that this latest dump and subsequent recovery brought us back into exponential territory. That's good, because if bitcoin rises too fast, the rally is shorter and the top is not so high.
So it seems the longer rally with top at about 10K is a possibility again!
It seems that this latest dump and subsequent recovery brought us back into exponential territory. That's good, because if bitcoin rises too fast, the rally is shorter and the top is not so high.
So it seems the longer rally with top at about 10K is a possibility again!
This means that we are already where we should be in mid-June, so that this rally probably will be shorter than initially anticipated.
Instead of the top in late July, I would place the top more towards end of June, beginning of July, consequently the top will also be lower, most likely in the 6-8k area.
Quicker rallies go up faster and the tops aren't so extreme (still extreme enough for many, hehe).