I couldn't help but ponder over the possibilities that another Bitcoin Rally is in the cards, especially with so many participants currently suffering the "This is a fool's Rally"-Syndrome.
A trading opinion usually has to be contrarian to most in order to work. So here's an alternative view of how I'm currently looking at the longterm structure.
As we can see in the chart, it looks like the Dollar has been consistently dumped against Bitcoin over the past 4 years now, with a new drop just starting to roll over. It's a good thing to take a few steps back sometimes.
Also, I have a tendency to see parabolic shapes in price development. I added those because I like to see them like that, there's no sources or anything that prove them to work, but it might offer some of you some new perspective as well :).
Lastly it is very interesting to note that the premium one pays on a Bitcoin to be delivered in 45 days from now carries a 10% premium... This is way past insanity levels and shows something big is brewing...
Will Santa bring us crazy Bitcoin action in the coming dark days of December?
Good Trading!
A trading opinion usually has to be contrarian to most in order to work. So here's an alternative view of how I'm currently looking at the longterm structure.
As we can see in the chart, it looks like the Dollar has been consistently dumped against Bitcoin over the past 4 years now, with a new drop just starting to roll over. It's a good thing to take a few steps back sometimes.
Also, I have a tendency to see parabolic shapes in price development. I added those because I like to see them like that, there's no sources or anything that prove them to work, but it might offer some of you some new perspective as well :).
Lastly it is very interesting to note that the premium one pays on a Bitcoin to be delivered in 45 days from now carries a 10% premium... This is way past insanity levels and shows something big is brewing...
Will Santa bring us crazy Bitcoin action in the coming dark days of December?
Good Trading!