As the market obediently heads towards the apex of the descending triangle, any bullish breakout risks influencing the bears to scurry away faster than you can say distributed ledger. There is always the chance we have a short storm / dump right before a bull run, which *could* lead into a descent into the 5k and even 4k range; but history indicates that there is quite a big bullish pump to be expected around EOY, dumping heavily into the end February or March.
I remain bullish overall, and so if we see a dump I will use that as a buying opportunity as all the weak hands sell me their bitcoins.
Happy trading!
I remain bullish overall, and so if we see a dump I will use that as a buying opportunity as all the weak hands sell me their bitcoins.
Happy trading!
Comment:
based on analysis of today's short-storm, I feel we might have a long accumulation phase coming after we hit what will be the lowest Bitcoin will ever be again.. ever. (Think short-storm January 2015)
Comment:
Last bear trend we saw a 45% dump right at the very end of the bear trend in matter of days. Having hit about 3450, we are right in line with that pattern. We might have just seen the very bottom of this bear trend. With the massive pump on the 5m chart after hitting that price, this a good signal that we have hit bottom. If today, sunday, closes above 4k USD, this will be another signal that 3450 was bottom.
Comment:
Having seen the market movements as of late, I think we may have yet to see our capitulation candle. Once that happens, I think we will see our long accumulation period before a proper supper's rally.
Comment:
I've learnt more about the relative volume's of capitulation candles, and so i'm even more sure we have yet to see our capitulation candle just yet. I think it will likely happen this week (Dec. 17th)