Usdbtc
bitcoin BULLISH ASCENDING TRIANGLE or BEARISH WEDGE ??? thanks!what do you think?
BULLISH ASCENDING TRIANGLE or BEARISH WEDGE ?
Thanks!
bitcoin short Bitcoin obviously left rational / sustainable prices.
And it may have got 4 times the amount of active users as in 2014 ? (according to blockchain.info)
- But then, do we need to reach 4 times the price of 2014?
Now users have different demografics. Back then it was coders/developers, and some who believed in bitcoin and also gamblers.
probably richer in average (more bitcoins per person.)
2014 was people still not trusting it as much as now and needing or wanting to leave more than now (New miners and others) .
and others feeling like it was just a game. And some people not willing to give away any - at any price before $10 billions in marketcap or so, which seemed enough in 2014,
even expecting fast developments, leaving enough opportunity to buy back cheaper.
Yet it went above $14 billion for a brief moment so another 40%
Today people are here more permanently and more people. And poorer people.
They are more rational because it is necessary. They may bought 0.1 Bitcoin for $60. Sell it for $250. Buy it again for $125
I know even silver does some weird charts for example
- but the bigger bitcoin gets the less likely is parabolic shape!
Parabolic shape is basically just a Ponzi-Party (next to some real new fans and capital)
- And exploring the equilibrium in minds:
What should be the maximum now? - Thats all.
So what should be the maximum?
Bitcoin may has only got ~70 times fewer active than paypal but bitcoin users do 20 times the volume per person in $USD
Because it is cheaper, they can move it between wallets. Or anything. And some bought it cheaper.
so bitcoin could be worth half as much as paypal now = $30 billion
it is far, but doesnt look that far anymore either!
that is where Bitcoin paused for some days this time (at $30 billions)
Of course it has potential to grow many times, but all other Crypto currencies may have too...
So that may be just be the right amount for now.
And it already tried another 40% again too right now ($42 billion)
But this time it may be even faster?
bitcoin may have dozens of millions of active users later, like paypal or even as many as visa, or more (including "the unbanked")
but by then the price will be much more stable too.
Gambling may level itself out sooner through advanced / leveraged trading which was not possible/common in 2014
Option 2 (pink): Bitcoin could go more than up vertically (above 100% slope) - so even go backwards in time and leave space?
BTC Bull trap todaySeems we find ourselves in a bit of a bull trap today. This is unsurprising, as we know that around $1050 BTC is met with quite a strong and consistent resistance.
If you look at my earlier posts, you will see what I mean.
Now that the bull run comes to an end, it might be a good idea to short now. With regard to buying back, I would be hesitant.
Hopefully, after this descent, BTC is able to make a comeback, possibly breaking this trend and causing a flag.
Bitcoin resistance and trendline broken, momentum building3870 has built support at this key level, and with such a long-term trendline broken, this is the first strong, clear move up. Get out of shorts, and at least buy, but I am long. In the unlikely event that price dips below 3780, then look for signs of this being a fakeout. The USD prices for these levels are around $580 now and $565 at next lowest support.
FUN FAKE FUTURES TRADESMACD and RSI are both overbought let's take it down five bucks over the period of a day and end up completing our triangle at $217 on April 20th.
