I'm not worried about the collapse, but the silence phase will be painful / depressing / boring.
Too true. Alot of this is technical mumbo jumbo to me, but can someone explain why the Mid January capitulation to 150 followed by the last 3 months of silence is not exactly this, and that the bottom hasn't already been reached?
It's bid sum still being ridiculously low (and still decreasing, while at the end of the 2013 bear market bid sum went nuts, and price clearly followed for example), it's decreasing volume on all exchanges since January (again, after a real capitulation like in 2013 or 2011, the recovery should be panic buying on progressively increasing volume for the following months), the fact that the actual volume on the $150 bottom wasn't all that amazing (on chinese exchanges they are almost a standard volume bar), the fact that overall volume measured in USD is lower than in the $300-$400 area especially on chinese exchanges, EW analysis, value of daily mined coins, short term (and also long term) support trend lines broken, recent weak price action etc.
I'm not an expert on Elliott Wave Theory (I don't know anything about it actually), but all the EW chartists on this forum are bearish right now. They probably can give you a more specific answer regarding EW.
As a summary I would say:
-Bearish current price structure (and weak price action)
-Decreasing Bid Sum
-Decreasing volume (since the January bottom)
