Look for a squeeze at around 6800. The triangle is tightening and the price has to gap up or down. Tread carefully.
I'm long 5-10 years but buy on the dips.
If you're short term I'd set a stop around 6100 depending on your risk appetite.
Long term hodlers, stay the course and buy when ya can.
Bulls and bears welcome !
Just a new updated reference to those who wanted a chart since 2013.
The mining block reward on bitcoin cuts 50 percent every 4 years.
50 to 25 Block reward 2012
25 to 12.5 block reward 2016
12.5 to 6.25 block reward 2020
I am not a financial adviser. This is a long term chart of bitcoin, I included include the 2014-2015 bear...
Wedge pattern continuing to coil inside resistance and support.
I am biased and hold BTC long term but for a new buy I would dollar cost average into this trade on a weekly basis. Getting some entries around $6300 would be ideal.
We can only see how this will play out during the next 30-45 days should determine if we break up or down.
I think the entire stock market is overbought. On average an economic recession occurs every 7 years, the last recession was in 2007/2008. 21 trillion of debt, massive stock buybacks...
A lot of people make this point and yes it is valid on average. I believe the Nasdaq is overbought above 80 RSI from a TA point of view. This entire explanation could be 1,000...