Remember that last time we literally took a couple of days to go from $10k to $20k. We literally went a couple thousands up daily until the crash. We could go thought the same scenario again, but going higher than before since the bottom this time is higher. A believe a FOMO event to $30k in august is now possible.
These were just the same guys buying and selling bitcoin from and to their own addresses. And there were a few people who were entering the crypto market due to the too much hype created by the price. And now people have gone crazy,they are at a loss and look who they are blaming...
Topic: Trend reversal proposition - page 2. (Read 350 times)
breaking a major down trend line can just indicate an interim bounce. that RSI divergence was relevant in the $6000s but it played out a long time ago---hence being in overbought territory now.
i agree that we're probably going higher though, just based on time and structure. the $11000s should provide a correction but i've never seen a triple top in the charts before. so if we get to the $11.5k area, i expect a pullback and breakout.
this seems doubtful to me. there are so many buyers trapped from last year. the 2017 bubble was the culmination of 2+ years of bullish accumulation---the ultimate squeeze. the market needs more correction, probably on the order of many months if not years.
i agree that we're probably going higher though, just based on time and structure. the $11000s should provide a correction but i've never seen a triple top in the charts before. so if we get to the $11.5k area, i expect a pullback and breakout.
Remember that last time we literally took a couple of days to go from $10k to $20k. We literally went a couple thousands up daily until the crash. We could go thought the same scenario again, but going higher than before since the bottom this time is higher. A believe a FOMO event to $30k in august is now possible.
this seems doubtful to me. there are so many buyers trapped from last year. the 2017 bubble was the culmination of 2+ years of bullish accumulation---the ultimate squeeze. the market needs more correction, probably on the order of many months if not years.
Indeed, corrections in the market was very hard and it will take few more month to go before we will hit the bullish market again. I think taking years to go further isn't possible, but we must no be too confident about that since we had no assurance with the current situations which may happen in the next few days. Hopefully we maybe able to sustain the current doubts that everybody was having right now in order for us to control each and everybody's emotions.
It went to $10k to $20k like a couple weeks because that was at the height of a long bull run. That was the mana phase just before the big crash. We're now in the slow consolidation phase after a crash. Ain't nothing going from $10k to $20k in 3 months. We're in a COMPLETELY DIFFERENT scenario than we were in back in December. We're not just suddenly gonna launch into a mania phase out of the blue. Expect most of this year to be gradual buildup back to around $20k and then the media starts going crazy again and people who got stuck in December realize they're actually in profit now and they should have been buying throughout this year and big time investors realize things are gonna start going boom again and we'll probably start a new bull run from late 2018 to mid 2019 or so, during which $30k might be a quick stop during the bull run.
I wouldn't go out of my way and say that $30k is now possible by August, that to me is still a very high target regardless of a trend reversal or not that probably won't even be achieved by the end of the year, let alone by August.
It honestly depends on if the psychological 5 figure barrier gets hit by the end of the month.
If it does, then there is definitely a possibility that the rally goes on longer, and fomo buying accelerates as people believe that it's the new all time high. Although I definitely don't see an all time high coming any time soon.
It honestly depends on if the psychological 5 figure barrier gets hit by the end of the month.
If it does, then there is definitely a possibility that the rally goes on longer, and fomo buying accelerates as people believe that it's the new all time high. Although I definitely don't see an all time high coming any time soon.
breaking a major down trend line can just indicate an interim bounce. that RSI divergence was relevant in the $6000s but it played out a long time ago---hence being in overbought territory now.
i agree that we're probably going higher though, just based on time and structure. the $11000s should provide a correction but i've never seen a triple top in the charts before. so if we get to the $11.5k area, i expect a pullback and breakout.
this seems doubtful to me. there are so many buyers trapped from last year. the 2017 bubble was the culmination of 2+ years of bullish accumulation---the ultimate squeeze. the market needs more correction, probably on the order of many months if not years.
i agree that we're probably going higher though, just based on time and structure. the $11000s should provide a correction but i've never seen a triple top in the charts before. so if we get to the $11.5k area, i expect a pullback and breakout.
Remember that last time we literally took a couple of days to go from $10k to $20k. We literally went a couple thousands up daily until the crash. We could go thought the same scenario again, but going higher than before since the bottom this time is higher. A believe a FOMO event to $30k in august is now possible.
this seems doubtful to me. there are so many buyers trapped from last year. the 2017 bubble was the culmination of 2+ years of bullish accumulation---the ultimate squeeze. the market needs more correction, probably on the order of many months if not years.
This is a scenario im contemplating now.
$9666 was broken and now we should be testing $11803, and when we get past there, I'll apply fibonacci retracements to look from where it could rebound, assuming we take a break and don't we go full blown FOMO to a new ATH.
Remember that last time we literally took a couple of days to go from $10k to $20k. We literally went a couple thousands up daily until the crash. We could go thought the same scenario again, but going higher than before since the bottom this time is higher. A believe a FOMO event to $30k in august is now possible.
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