This is looking at monthly chart, so dates are not 100% accurate.
Scroll back to see 2013
from 1st Nov 2013 (the current ATH) BTC dropped 87% over 426 days to the bottom.
from 1st Jan 2015 (the new bottom) BTC gained 653% over 762 days to previous all time high.
from 1st Feb 2017 (The previous ATH) BTC gained 1570% over 303 days to the new all time high.
Well I can't see any moons?
Sure some more gain over the next few days, followed by consolidation and a big move ??? UP or DOWN ??? who know's, not me... but probably in this market, it's gonna go down.
Not a financial advisor, do not copy, why would you?
Everyone is predicting at the end of this triangle a massive breakout upwards or downwards.
1) would need new money to come into action, where will that come from?
2) would need more traders to throw in the towel and give up on bitcoin?
We could of course still move sideways.
So will new money come or will traders give up on bitcoin? what are your thoughts?
I'm hoping by posting this chart BTC makes a fool out of me and pumps hard...because I got bags.
Anyway this is just something I put together looking at previous bitcoin dips, from 2014 to now, if we were to follow a similar pattern.
We *COULD* be in for a really really long downward trend, until we finally slowly reverse, of course the magic pump does not...
Set my order at 6968.
$860 at 10x
Target 7.45% 7486 (10x 74.5%)
Stop 3.5% 6723 (10x -35%)
$860 will become either
#Note i'm not a financial advisor, my trades are mostly wrong, this is even more risky with leverage. Do not copy me.
I'm going to try something very risky, and turn $500 into $10k in this bear/sideways market.
Starting with $500, going for either a 55% gain or a -35% loss.
Next stop $775 or $325!
Note: *I'm not a financial advisor, 100% do not copy this trade, it's high risk and I'll likely lose :)