Haven’t really been posting a great deal because to be honest I haven’t seen much to post about thats different from my view expressed in most of my latest posts. Sloooow grind down. (With a few rallys scattered around). I still think thats whats in store really, I’m talking about on longer timescales here which is usually the timescales that interest me.
Heres some charts.
Bitstamp stretching back last year and half or so on linear timescale with 1 day candles.
The last rally broke up through lower of the red trendlines but is now following that trendline down. Price is dropping at the moment, down about 4.5% today as I write. I think it could fall further to about $320 then bounce off that lower red trendline, perhaps starting another rally.. or not.
Heres a look at a similar timescale again bitstamp data but this time on log price scale
A while ago I painted some arrows on there to show how we may visit the bottom of that long term channel I’ve been looking at. Here you can see that the price so far is pretty much bang on my predication. At the moment price playing out like this still seems to be most likely to me. More boring grind down. No moonshot in sight for a little while yet. (Though I’d be happy to be proved wrong.)
Thats it for now, happy hodling