We're just trying to follow the blue line.

in #bitcoin3 years ago

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We're just trying to follow the blue line... and the blue line, the evolution of prices in 2014, nationally to stick to the current situation:

And it's depressing, because if this hypothesis is correct, we are still down!

And at the same time as "slowly" down (certainly more quickly than in 2014, but still slowly over the past few months), there is more volatility to play to get fast gains. In addition, as the market seems more hesitant than before (not of beautiful waves of Elliott of net and Frank), it is riskier to rebound trend or continuation bets.

That said, we can still observe several things for the coming days:

We get to the end of the white triangle, or: we already went down according to how we draw...

We approach the lowest in February at around $5930...

The average Mobile 50 days came under Mobile 200-day average.

In this configuration, everyone is waiting to see what will happen... and unfortunately, there is little chance that buyers arrive in droves.

It is therefore likely that we break the resistance of the $5930, and if we spend significantly below, can bet the continued decline up to $3000, which would be in line with a reproduction of the scenario 2014...

The good news is that $3000, it will have dropped by 85 percent from the highest, and that even by reproducing 2014, we'll really have reason to go lower. It will be so may be the time to begin to buy, but it shouldn't occur before end of April...

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