If we take a good look to the volume than we did not have a solid confirmation of the rising bullish triangle outbreak. It was a crappy outbreak on sunday evening with low volume, that also on monday and tuesday dit not increase. This probably means we are sill in the pattern and the only reasonable pattern right now is the bearisch rising wedge to 10K. Good luck...
We bounced pretty good from the 200 week ma double bottom. The 200 week ma that was also involved in the 2014/2015 bottom. However i think that the people that are in this game from 2013/2014 know, there's more to the story. There was a good reason why BTC bounced so heavily there, it was on the all time moving average aka all time mean. After exactly 1641 days...
The current rally is a nice bull rally in a bear market, but we ar not there yet. We wil have a deeper and longer depression…. Buy LOW and HODL high!
Following this spring rally of bitcoin, we will have a longer bear market...… I have compared the current bear market to the silver bear market and the last BTC bear market. It's not the first one i have made, but this is the last revision. Falling triangles, falling wedges, double bottoms, triple bottoms, it's all there and it will take a while before we will...
Bitmex is clearly heating up to a bullish boiling point. From bearish priced futures to bullisch priced futures in short period of time. Offcourse this was due the break above 6 to 8000 usd. This could be a good set up for a long squeeze….
I still believe 8500 is a key resistance, because of august ‘18.
Same shape that you will find in every bear market. Nothing new under the sun. Unfortunately it only extends the bear market.
Of Course this research of only one previous bitcoin bubble does not provide very reliable data, but history tends to repeat itself on head lines. On the short term ( 0 - 3 months ) we have bullisch potential, maybe up to the 7000's. On the medium term ( 3 - 24 months ) it looks bearisch to around 1850 probably, when the support of juli 2017 and the all time mean...
Why not when looking at the montly chart and comparing this to other bear markets. The last big green candle of 2018 could be the mark. Otherwise we are heading for 10.000 max. It's still a bear market.
Same same but different?
Every bear market takes longer than expected Offcourse these lines give only a very rough estimation of what seems to be logical. Every bull run takes much more money than the last one.
I believe the bear market consists of multiple phases. 3 main phases. In this chart the first two and in the log chart the third one. Of course the question is how far are we going up this time. Maybe to the top of the last bear trap end 2017, just below 8000. We will see.
As crap as it is, drawing the lines that are realistic, compared to the past, but not the lines i would like to see. Offcourse it makes sense that the bear market of today is longer than of 2014. And that we have to return to the mean as in 2011 and 2014. In may 2014 we had a similar break out as we have in april 2019. We will see where we end up. But we are a...
It sure as &^%&&% looks similar... Means we can easily go above 6000 and than drop much lower than 3000.