Hahaha! Great chart! Kind of true for bitcoin. 
BTW ... I am doing a lot of serious trading with binary options, mainly currencies, but I still didn't go into bitcoin trading ... I was looking for the info I can find online and I am very happy to find this forum! Since every trading asset - stocks, currencies, commodities, etc .. has its own 'rythm' and chart patterns I wonder what is the story with bitcoin. For me it is still a very unpredictable asset, especially for intraday and high-frequency trading.
Does anyone have any experience with any type of bitcoin trading based on the technical chart analysis? Any advice on this? Or it's best just to keep away?
BTW ... I am doing a lot of serious trading with binary options, mainly currencies, but I still didn't go into bitcoin trading ... I was looking for the info I can find online and I am very happy to find this forum! Since every trading asset - stocks, currencies, commodities, etc .. has its own 'rythm' and chart patterns I wonder what is the story with bitcoin. For me it is still a very unpredictable asset, especially for intraday and high-frequency trading.
Does anyone have any experience with any type of bitcoin trading based on the technical chart analysis? Any advice on this? Or it's best just to keep away?
Well there is ALOT of fluctuation after the twins pumped a few million into the market thats when BTC really took off but I believe at least until more mainstream brick-and-mortar stores start accepting BTC that $1,300 per BTC was a pretty unsustainable price somewhere in the $400-$600 range seems about right right now but I believe that things are going to continue to stay rocky in the near term while the market reacts to China and the USA's rulings but as long as the exchanges (cause this is where the real issue lies) get Licensed theres nothing stopping long term growth in my opinion. In the interest of full disclosure I am LONG on BTC and LTC but that is just me do your research and make your own decisions but I believe that as long as we the community support BTC everything else will follow.
If enough people can get just ONE major retailer lets say Target for example to accept BTC/LTC watch how fast every other retailer such as Wal*Mart and the like will follow suit because accepting crypto will ggive the first adopters a competitive edge in an increasingly tight market but I can almost guarantee that the big boys will shy away until the shenanigans with the Gov't are done which leads us back to us as the community need to write our Congressmen and Senators (for my fellow Americans that is) and let them know that BTC SHOULD BE CAN BE AND WILL BE UNIVERSALLY USED, each phone call, letter and/or email is weighted to represent about ~2000 registered voters (last time I checked at least, so don't qoute me on that) so even if only 100,000 of us lobby that is a MAJOR voice to be heard by the jokers in charge.
You have describe a few ways for the price to go up again but I see many more : more users, positive news about the price in the media, panic buying, banks failures, USD collapse, European debt problem coming back in the news, more trust in Bitcoin and the system ect.
oh of course I was only trying to outline a simplified layout of the current economic climate as it pertains to bitcoin touching on the major issueswhat with Licensing (or shall I put it maintaining legality?) and how we as the community need to keep pushing on all fronts to expand BTC, as long as these two conditions are met everything else follows
Everything else should follow if nothing bad happens
I am very optimistic as well because the protocol is very innovative and allows us to do a lot of things easier, faster and cheaper
