Bitcoin ideas next days

11 dic 2017

With the higher volatility it's increasingly difficult to say where the bitcoin is going. We might see the building of a double top (or shoulder head shoulder pattern) around over/under 20000. After that it's from a cyclical point of view possible that we enter a phase of technical correction, leading to 13000 (if even, in case the strong uptrend is just continuing, correction could be postponed), or 11500. There is also the possibility it comes down to 9000 confirming the last bottom trendline. A direct breakout in direction 30k would increase the risk of a sharper movement in the other direction dramatically (similar to a fake breakout). Please don't forget that the time frames for the movement predicitons on the chart are not accuracte, it's just technically and schematic, suggesting the ideas.

Also, news can have now, with the increasing vola, an even higher impact on the price, impossible to say in which direction and could anticyclical stop any trend. Looking at the overall trend, the time frames are becoming increasingly smaller with higher volatility. The price is cyclically increasing in a certain pattern for 4 or 5 months now, still there is more than enough uncertainty about future developments. The possiblity for an anticyclical movement is no doubt increasing with time. Possible, that there might be many months to come still. And of course, as long the uptrend goes on, we just ride the trend and you know, the trend is your friend. Being careful and patient for the next rollercoaster ride can be rewarding sometimes too, just never buy into falling prices.
And better don't short now, since correction timeframes are increasingly lower, last one was only a few days compared to the others before with one and two weeks. This can be still an opportunity, but better only if we see more price stability or a certain price range, which didn't really happen since june this year.