Bitcoin view

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

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3 thoughts on “Bitcoin view

  1. Hey AF thanks for the update!

    Bears are back however they are about to go into winter sleep and they are weaker! 🙂 I was expecting a consistent decline towards $290-$300 range past weeks however, it didn’t happen. Dumping volumes are not what it used to be and next month we may see a comeback at an unexpected level, pushed by some exciting news. Upcoming FED news are also extremely important for global economy that will %100 affect all markets.

    “In Bitcoin we trust”

    1. Thanks for commenting guys.

      For a rally strong enough to get me really bullish again I think i need to see the price bust up through all the lines you see on the log chart.

      Longer term I still think bitcoin may have another bubble that will make the last one look like a little ripple!!! But I’m not counting on it. Still trust gold and silver too 😉

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