BTC: 5 quarter base
It seems like Bitcoin has built a 5 quarter base, and rallied for exactly 5 quarters before starting the current slow downwards grind.
Right now the outlook is neutral, but as soon as we see an impulsive decline, I expect it to develop into a strong downtrend, targetting the 86 dollars mark.
Mining induced inflation is slowly killing the BTC price, which shows a weak demand, and a fading popularity after the emotional bulls are losing their perma-bull patience.
I sold my BTC at 378usd and I'm not looking back, but I find interesting how this market behaves.
On the fundamental side of things, some people are counting on the US Marshall's auctions' buyer Tim Draper and others to push the price up, but for now there is no sign of bulls in the longer term.
My reccomendation: stay in cash or your asset/commodity of choice.
Right now the outlook is neutral, but as soon as we see an impulsive decline, I expect it to develop into a strong downtrend, targetting the 86 dollars mark.
Mining induced inflation is slowly killing the BTC price, which shows a weak demand, and a fading popularity after the emotional bulls are losing their perma-bull patience.
I sold my BTC at 378usd and I'm not looking back, but I find interesting how this market behaves.
On the fundamental side of things, some people are counting on the US Marshall's auctions' buyer Tim Draper and others to push the price up, but for now there is no sign of bulls in the longer term.
My reccomendation: stay in cash or your asset/commodity of choice.
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