Bitcoin breakout Confirmed? 📉?
This is the chart from Bitfinex
As a follow up to my last Bitcoin-article, I will point out my theory suggesting the possibility of a longterm trendchange from bullish to bearish.
The main reason for my theory is that the hype seems to calm down, and that many people are waiting to buy until after fork.
Here is the trend chart for bitcoin:
https://trends.google.com/trends/explore?date=today%2012-m&q=bitcoin
I think this means less interest, and less new money coming in, compared to earlier.
My opinion is that no big moves in price are going to be seen until after the fork.
In any case, and depending on the news and such, price is going to go down.
yeah. I think it will go up again after a correction :)
The problem as I see it (and is usually the problem with stocks going high rapidly) is that no real support has been established. Therefor its hard to say how big the correlation will be. I dont think we have seen "it" yet. Not sure if 2k will hold, and if it doesent, panick can take over. This is based on my opinion and my experience with stocks. My experience on cryptocurrencies are limited. Thanks for your post :)
I totally agree. I am not ready to buy back in again at this time.
The fork is a "bad news", and will grow in power as we approach, and maybe shift right before?
(My trading background comes from forex, but the patterns remain the same.)
yupp, im also on the sideline for the time being. Jaggu, der fant jeg ut at du var Norsk :) Får vente noen uker eller måneder å sjekke utviklingen, så får vi se om det dukker opp en kjøpsanledning. Bra post :) veldig interessant med TA
Hahah! Mange nordmenn her. Helt enig! men om vi går ned til 1800-1400 kjøper jeg så det ryker!
Ja, jeg kan bli helt fanatisk opptatt av charts og TA. Satt oppe hele natten under brexit. hehe
Takk!
Ser ut som det gjerne ikke er så lenge til den muligheten byr seg, går fort nå. Brexit måtte jeg gi meg på, sovnet desverre sittende :D var ganske sikker på at de stemte for eu, men så feil tok jeg. Us election derimot!
Ja, ser ut som vi nærmer oss, men det er enda 2 uker til 1. august... venter litt til! Får se om support holder ved 1800
Agree with you. No big moves and maybe slight decline until we get closer to august 1st. Then we're going mooning!
looks like we are falling down right now
Yeah
I have made a prediction that something good is gonna happen soon. Bitcoin is on the move and its a bullish move. Steemians i may be wrong but I Bitcoin will most likely sky rocket. Don't say i didn't say so....
Interesting : ) I think it will go up too, but first a small correction. Possibly now...
So you expect a decline, if I read correctly. That is a plausible scenario, of course, but solely relying on Google trends is dangerous, trends could also follow price action instead of the other way around.
Yeah, google trend is not my main source for fortunetelling. I rely most of my theories on the charts, and then it is comparing historical patterns.... Bitcoins's total crypto-marketcap as well... comparing TA from people that i respect, and most of all my gut feeling. : ) Google trend is just another indicator.
Ok. Thanks for the clarification.
I think is going slightly down in price due to the fear as a human emotion :D
If I had planned to buy BTC Id wait until last July. If everything goes ok after the fork, it will probably go up slightly again. If sth goes wrong, see ppl losing BTCs for example, price will drop and ethereal/zcash/dash/etc.. will rise. Do I need to see google trends to have such an opinion ? Nope :)
Yeah, of course. Fear in the market before the fork + losing interest from people outside of the cryptoworld. 2 different things.
Will there still be a hard fork?
We will know in august :)
I think you are correct. Looks like a triangle going down..
yes, it was almost textbook, hehe :) lucky with that one.
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