I speculate on a consolidation within the parallel channel, forming a handle after 3 year long cup / round bottom
Fundamentals update:
In case of breaking down the channel, I would expect longer bearish cycle.
Fundamentals update:
- Hashrate skyrocketing 2,985,271,637 GH/s
- COIN etf next news in march expected
- India about to ban cash
- Chinese exchanges want to add trading fees
- "Bitcoin Enthusiast Peter Thiel Joins Trump Transition Team"
- Scaling progress: Segwit and Parallel Validation
- Lightning Network ready (needs segwit)
In case of breaking down the channel, I would expect longer bearish cycle.
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daily cloud
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“Blockchain technology is an extinction event to traditional financial institutions. Like the dinosaurs, a few will survive by morphing into agile birds at a small fraction of their previous weight and size, but most will just die.”
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btc hit its first target for this long consolidation move, cant break the old ath here at this time.
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even if china isnt leading anymore, this chart still shows the importance of the old china ath keylevel
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something happening in china, charts catching up, 6% up already.
Seems like we break the old ATH line and have a large symmetrical triangle
Seems like we break the old ATH line and have a large symmetrical triangle
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china catching up and going 5 digits with breaking the 10k cny and is now in uncharted territory
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Impressive! Upper channel target hit, breaking out the channel could cause a 2013 style bubble.
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with withdrawal enabled for chinese exchanges the volume is soaring and so is the price. China trying to reach a new all time high.
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Bitcoin hitting 30k cny is another milestone as the channel upper line has turned into support and triggered a launchpad.
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bumping this chart because its good to remember what happens after larges crashs: usually price ranges in the drop range for a while, most times it forms a triangle or another consolidation pattern within the range.
