Lots of bulls still, but to me this triangle says it all. I don't think we're going higher, although at this point anything anyone says is just speculation. Moon has been delayed for next year at least in my opinion though.
If you take the supports and resistances somehow everything melts down at the end of 2017, around December 30th - December 31st, right around when the Stellar giveaway will be taking place. Coincidence? There are no coincidences in crypto. Something might be happening around then.
If you trade this triangle just buy the supports and sell the resistances. I think it's going to break down eventually and we'll revisit 8000 CNY in the next months (around 1200 USD). But then, around the end of the year, a pivot will come to save Bitcoin, or to kill it forever.
Good luck :)
Remember if you want to discuss about this into more detail you have more information about my groups in my signature. I'm also analysing the fractals for this and once I have a better the idea I will post the updates in there. Last time it worked perfectly. I predicted the exact moment to sell the top of the bubble even before it started. You can check it out here:
It's an interesting sight, but I'm not with you on this one. Symmetry looks good only on CNY. The charts against the USD does not show this, same on EUR.
We have SegWit Activation soon on Bitcoin. Some weeks ago the protocoll's activation resulted in a upside spike on litecoin. I expect Bitcoin to react simular.
CoinMajesty
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@Sebastian.soik, SegWit activation made Litecoin dump.
We will see what happens.
May 25th was not a coincidence. Nothing in crypto is.
SkayWalkuurrr
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New all time highs would be correct haha
This works out atm:
mychartslie
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Have you ever considered looking at BTCUSD on log scale?
CoinMajesty
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@mychartslie, Of course, check out my other charts ;)
valueerror
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i find it interesting that you link to an TA where you said to sell BTC at the exact moment it started to pump to 2800.-- but to be fair you said the strongest pivot will be around may 25th.. following your fractals the 21 bars period should hove been a correction and the 30bars section should have been the run to a new ATH and both fractals did not apply.. also the run on BTC was beond our imagination and way above the prediction - which is nice but it renders the prediction of the date (25th of may) as pure coincidence ...
so in short... this time i'm definitely not with you.. i think we entered a new trend channel in may and we will stay in there ... so 2000,-- is probably the lowest it will get ever again..
we could easily be heading to a new ATH the next week and stay between 2600 and 3600 for a while...
jeonghoejin
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You're really good at btc bearish pattern. I love your analysis.
We have SegWit Activation soon on Bitcoin. Some weeks ago the protocoll's activation resulted in a upside spike on litecoin. I expect Bitcoin to react simular.