Euphoric finish on the super high timeframe charts here. One hell of a year we've had.
This is my opinion on how euphoric trends finish. You can see similar logic in the comments of my linked article on the oil market bottom in 2015, and also the comparison chart shown here. When a trend compresses and becomes crazier and crazier... that's the candle you're looking for.
Though being real, I've been bear for quite a long time on this market. Bit too early, #weakhands. But this is just ridiculous. We need to cool off for a while. Not to mention end of year positions closing.
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This is the kind of example I've had in the past on the structure of falling wedges and euphoric finishes for markets.
@trident_71, The whole crypto-sphere has been hit hard.
erelerel
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can you kindly update this chart please? :)
TomShilleck
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Is it looking like another failed attempt at break from downtrend line or a repeat from the previous time it double bottomed?
TomShilleck
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Does this mean you're no longer long on btc and hold no position? Do you see a new ATH in the near future?
Enhancement321
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@lirio, IMHO I would say yes to your first question. To your second, IMHO $50,000 BTCUSD by the end of 2018.
erelerel
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Please give your updates in our language :) we are just poor noobs who doesnt understand too much technical :) what does it mean %75? is it good or bad? hahah :) thanks!