Bitcoin technical analysis #13 - Stage of denial (bubble)
This is a follow up of my series for Bitcoin technical analysis. I will continue posting new technical analysis twice a week for both, Ethereum & Bitcoin.
The schedule is as follows:
Monday:
Bitcoin technical analysis
Tuesday:
Crypto market cap technical analysis
Wednesday:
Ethereum technical analysis
Thursday:
Bitcoin technical analysis
Friday:
(Not sure yet what I'll do Fridays :P)
Saturday:
Ethereum technical analysis
Here I leave my analysis for today
Thanks for being here & as always I would appreciate your feedback,
Happy Blogging xx
I really hope you are wrong but I think you have convinced me to sell some of my coins and wait out the next few months in fiat!!
Very interesting analysis, and a refreshingly objective perspective . :-)
TY :)
Great analysis. I'm hoping you're wrong but I suspect you're right. I'm exiting everything as I type. I liquidated all my alts for BTC over the last week and now I'm half way through liquidating all my BTC to USD and then I'm going to sit and wait.
Do you think if this bear does eventuate, that a good re-entry starting point would be 50-25 billion?
25-35 market cap I think is realistic
Thanks @dobe4ever for your TA!
I had few positions left and sold it all yesterday for the same reasons as you have mentioned in your video. Bought some Altcoins last Sunday on trip down to $60B marketcap so took a nice profit in a week.
I think the bear market will last around autumn time rather than one year but that's just me thinking and trying to predict.
I will patiently wait for a marketcap of $40-$50B and reinvest at that time!
You know when general public is investing at Ethereum @ $230, you gotta sell!
https://www.reddit.com/r/ethtrader/comments/6p3qfs/pornstar_janice_griffith_just_tweeted_about/?utm_content=comments&utm_medium=hot&utm_source=reddit&utm_name=frontpages
Exactly same here :)
In your opinion, what was the effect of the segwit to BTC price? I've been thinking about it and I think it had the adverse effect o causing mistrust. The day that BIP 91 started getting momentum, BTC started rocketing up ( see https://www.coindesk.com/bip91-begins-bitcoins-miners-signal-segwit2x-scaling-proposal-early/ ). I wonder if you can take into account these considerations in your analysis. So perhaps, BTC sinked due to the fear of a fork of the blockchain. But when things started to move forward, the price recovered. Now BIP 91 and segwit are going to go smoothly.
In my opinion we are going back to a normal, and it could be higher than what you project.
Hi when we enter bubbles fundamentals don't matter that much... The bubble has to pop & the price has to correct, no matter what's going on around...