If this pull back is proportional...we are looking at $3,300 in 2019.
The channel's middle line (50%) has turned into resistance.
We are currently hovering above prior long-term resistance turned support (2015-2016 bear market) on the RSI... Looking at monthly closes and RSI prints back then compared to now we can see a certain pattern had formed then and is about to form right now. The bear market was officially confirmed to be over following the double bottom which coalesced with a LL in...
Bitcoin is holding the future inside his handle. hahaha!
On June 11th we have entered a bear market. The decline and consolidation will now take much longer than expected. After Coinbase, 4 major other exchanges are being subpoenaed and investigated by request from CME for possible wash trading and market manipulations. This is probably the reason why we didn't go back up on monday after weekend to sync with the...
BTC BLX log view bottomed out channel prices. Probably a minor correction up from here, then the bear triangle will bottom us out, putting us all into depression mode. lol
price action is pretty obvious on the chart itself forming wedges channel supports respected
Bearish scenario on upper portion of chart, bullish scenario on lower portion This is a logarithmic chart for BLX, Brave New Coin Liquid Index which can be read about here: bravenewcoin.com Bearish scenario: BTC continues drive towards long term orange trendline, finally bottoming out around $3,000 before slow steady increase over $10,000 in 2019 followed by...
Every time Bitcoin went parabolic, it will crash and have it corrections. The length of the crash and consolidation period depends on many factors. One of the factor is how fast the price can recover and maintained at higher prices, we can see this during the early 2013 crash when Bitcoin recovers quite fast and went to another parabolic move at the end of 2013....