Bitcoin has been respecting the same trend line on logarithmic scale ever since the 2013 crash. Since then, there have been plenty of bubbles that start in the bottom half of the trend line and bounce off of the top half of the trend line. The one starting in April is no different. It bounced perfectly off of the top of the logarithmic trend line and is experiencing a bull trap as it has a few times in the past.
Assuming this time is no different than any of the past patterns in the last 2-3 years, we should see a correction to the $1400-$1550 range.
Link to TradingView for updates - https://www.tradingview.com/chart/BTCUSD/KKns0VnO-Bitcoin-could-see-1500-again/
Happy trading!
Nice job @icrushdreams! I think this is definitely a possibility. Personally, I'd think some sideways movement is in order before a sharp decline. Also, could you please add the TradingView post / TradingView screen shot to your Steemit post? :) Upvoted, Re-Steemed and Followed! ^_^ (I also shared with my Twitter followers)
Edit: Also since we're on the topic of Bitcoin waves/crashes I think you might enjoy this article I found on minor, intermediate and major Elliott Wave analysis on the cycle of Bitcoin: https://medium.com/@coinscrum/the-fractal-relationship-between-bitcoins-first-two-bubbles-and-what-they-might-tell-us-about-a-7c8df5fb9613
I don't think so but only time will tell.
Greet news ;-)
A french reader !
I definitely agree with you. Bitcoin is likely to correct back down to the $1300-1500 range before it turns back up again. I will be worse for ETH and most of the other altcoins.
i would differ in this case..even if it even touches $1900-2000..there are many people who would grab this opportunity to buy some more..and that would certainly increase the price further..
:) Boy I hope so, that will be a lovely day for trading :)
Especially if you get in a short before it goes down. Either a swap or option (www.deribit.com)
I think this chart is going viral bro @icrushdreams lol
Graph looks like a big D.....
apparently its supposed to get a nice, ice cold glass of dead puppies poured all over it!?? lol
steem power !!! lol
Did you know you can downvote something by clicking on the flag in the comment?
Why are you trying to police us for having a joke amongst ourselves? thanks for showing me where the flag is!? next time you but in just to criticise, i will use it!
Dude you upvoted yourself and your friend for $9.00 and upvoted OP for like ten cents. :(
Go buy some steam power!?
You're right. Buying Steem Power will fix people who upvote their own comments at disproportional amounts to the author's post. Got it!
@daniweav Buddy..take it easy..why so serious? it's a social platform...let's enjoy to the fullest..live ..love ..laugh my dear friend..
:)
So you come comment with useless info, upvote yourself, and you don't even upvote the post, or re-steem? :(
In my opinion if it crashes it will never rise again and people would leave bitcoin and will start buying other cryptocurrencys ....
I think you might be on the money @Zeljko2 but I also think @cryptosight is correct!
After each pump there is a dump. And after each dump there is a rise. So I am not worried or panic. Just holding my btc.
I agree with this. In fact I think it may go down lower to the lower 1Ks like 1100.
Long term, it all depends on Aug 1st.
Upvoted you bro - An article about how to boost steempower would be great ;)
I do find it stupid when people do stupid graphs, that doesn't make any sense anyway! Any investment move by greed, fear, and stupidity. What you're doing is sending panic to people to sell their position. I think while you guys selling Ill start buying! If you guys see the future of cryptocurencies.
I hope it crashes so people who are stupid enough will be in Wallmart Camp!
For people who wants to be on top and instead getting basic income from the govenment
then dont sell your Token.
Canada is moving to phase 3 of Project Jasper which will release CAD-coin a token for Canadian people. which Singapore borrow the project to our Central bank. Bitcoin and Ethereum will be the Mother and Father of Crypto Curencies. for all those who believe in AI revolution wait and you will be rewarded.