Short
Bitcoin Bubble
Bitcoin is a classic bubble.
Early adopters & investors accumulated coins at prices $0.01-$10 and pumped the price all the way to $1000.
Now the 'Return to normal' phase is nearing completion with a H&S on 3d.
Attempt to break $500 / 3000yuan massive resistance will not succeed and the trend is deemed to reverse.
Bitcoin has internal issues with it's design that were neglected, see medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7
Bad news will be used to justify popping the bubble.
Due to it's volatility the capitulation phase will bring lots of joy to all bears and good trading opportunities.
Double digits in $ are almost certain to be seen in such scenario.
Early adopters & investors accumulated coins at prices $0.01-$10 and pumped the price all the way to $1000.
Now the 'Return to normal' phase is nearing completion with a H&S on 3d.
Attempt to break $500 / 3000yuan massive resistance will not succeed and the trend is deemed to reverse.
Bitcoin has internal issues with it's design that were neglected, see medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7
Bad news will be used to justify popping the bubble.
Due to it's volatility the capitulation phase will bring lots of joy to all bears and good trading opportunities.
Double digits in $ are almost certain to be seen in such scenario.
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