It will pretend its losing steam, and just when its about to make a lower low it will turn, catching most people by surprise which leads to a significant rally.
PS. I am NOT an expert and anything i say should be taken with a grain of salt.
At this point everyone has pretty much accepted BTC is a bear market. Lots have probably sold expecting months and months of sideways because they look back at 2014 and see the similarities so far.
But listen to this. IF btc is just looking like 2014 because people think it will be like 2014 then it becomes a self fulfilling prophecy UNTIL the market realises ...
This is an idea that predicts BTC bottom around $5k. If you draw fib lines from the ATH to that level a 50% retrace (which are common) will take it to around $12k. This also coincides with the gaps in the volume profile. Lets see what happens. In the end this is just gambling and not a science.
After the first correction price been recovering nicely and you could easily plot the trajectory, but recently its kind of broken the trajectory and may lose steam completely essentially forming a head and shoulders.
The chart is pretty self explanatory. It had a epic rise near the beginning, then consolidated in the large blue rektangle, what if it starts heading down here having ultimately done a wyckoff distribution thing?
As soon as 1 ICO begins selling, every other ICO will begin selling. That freaking scheme is a ticking time bomb.
Things to look out for: Augur launch on mainnet in July. Its been highly anticipated. If it turns out to be a flop expect ETH holders to have a sudden moment of clarity: dApps suck and they are holding a piece of junk.
There is a void between $11k and $13k with no horizontal levels. It could be a point of interest. In my experience price returns to levels it hasnt tested, and the horizontal support level through december which broke have yet to be tested (To find out if it truly is resistance) But lets see.
Hello. Head and shoulders are reversal patterns. So if Weekly prints a IHS im looking for a cup and handle. If that happens im obviously looking for some serious moon because cup and handle if they complete are uber bullish.
this would just be sick. There is no question that big rally to $19k was caused by CME & CBoE futures hype. And this came at a time when BTC was already rallying. It just made the market go berserk. Now bitcoin has sort of returned to the mean. Been in a bear market a little, and its possible the longer term trend will take over. This will take BTC to $20k by end ...