Great analysis. I have been tracking btc via the U.S. exchange traded tracker GBTC. Altho there was no short term sell signal as of yet, the chart is showing as a short term confirmed top by my indicators. And there are lows below that need to get taken out down to 160.00. I think that would translate to a bitcoin price somewhere around $1500 or so. If this ends up being the case I might just buy lunch for the person who has the "guts" to say >>> "Buy the pullback!" at the right time. We might just see euphoria morph into outright panic...all in a 7 day trading period. But that's what happens when you actually "think" the market in bitcoin is different than any other market. It's all a matter of fear vs greed. And rarely do we see greed reach the euphoric levels we just saw in bitcoin. The GBTC chart. It can still save itself with a short term buy signal. But a short term sell signal at a lower high would be absolutely deadly. I will update the GBTC scenario at my blog here.
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Yes, I wouldn't be surprised at all it BTC goes down to test somewhere between $1,500.00 and 1,800.00. I'll be buying a bit if it reaches there, too (good value buys, IMO).
You meant to say "maybe" you'll buy then. There is also a chance you'll be too skeeerd to buy. No need to be tho. Just follow my updates.
Don't push the maybe, baby :P
I'm pretty fearless when it comes to trading the markets, meaning if I have a plan to buy a deep retrace, 99 times out of 100 I stick with it.
I appreciate your offer, though, and I'll give you a follow so I can check out what you got going on :)
LOL I apologize...sir. :-) I didn't realize who I was spewing at. Bingo! You are on my watchlist also. :-)