I bought at a poorly timed $2700, and just sat when it dropped below $2000. (The advantage of small positions.) Now I'm way up. Wish I could trade in hindsight.
Studying its chart some more, I think it just put in a "midpoint" consolidation on this leg up. Simply based on this pattern, my bet is it reaches the next yellow line ($6,800) before putting in a few weeks consolidation, where it scares everybody by testing current levels. It should continue its rise above $10,000+.
Especially with the USDOLLAR failing major support here, this outlook looks likely. If bitcoin isn't your cup of tea, then gold, commodities, or emerging markets will all do well.
I went to click to change this chart to a log chart, but realized it was already a log chart. Yes, it's steep beyond belief. How else are you going to escape the global fiat system before it implodes?
Studying its chart some more, I think it just put in a "midpoint" consolidation on this leg up. Simply based on this pattern, my bet is it reaches the next yellow line ($6,800) before putting in a few weeks consolidation, where it scares everybody by testing current levels. It should continue its rise above $10,000+.
Especially with the USDOLLAR failing major support here, this outlook looks likely. If bitcoin isn't your cup of tea, then gold, commodities, or emerging markets will all do well.
I went to click to change this chart to a log chart, but realized it was already a log chart. Yes, it's steep beyond belief. How else are you going to escape the global fiat system before it implodes?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.