- Organic growth is undeniable. By the summer of this year, 260k stores are expected to start accepting Bitcoin, following Japan's move to recognize Bitcoin as a legal payment method on April 1st (cryptocoinsnews.com/bitcoin-accepted-260000-stores-japan).
- The never-ending scaling debate is weighing on the price and market sentiment is neutral (twitter.com/TuurDemeester/status/866640155410669570), despite the recent price rise. When a solution will finally be reached, we can expect the mempool size (number of unconfirmed transactions) to drop and the Bitcoin price to shoot up to new ATH, unleashing another FOMO frenzy (driven by newcomers and those currently on the sidelines, waiting for more clarity to re-enter).
- Technically speaking, the situation may take around 10 days to "normalize", following the recent boom and bust. > 1-2 days: cautiously bullish > 5-7 days: neutral-bearish > 7-10+ days: strongly bullish
This chart analysis you have concluded with doesnt seem reasonable, well too me that is. This unqiue stock is one like no other, needing a whole new approach with studying it.