joelsmalley
Short

BTC bubble mania, pop scenario

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
2594 views
22
2594 18
Mania Phase is done. Blow Off Phase has begun. Bull Trap, Return to "normal" could see $16k before crash to under $2k.
Dec 22
Comment: Just for the record, I drew the lines on this very quickly and it's based on a broad theory of economic bubbles so my price targets can be taken with a wide degree of margin. If you overlayed some better technicals you'd get more reliable targets.
Dec 22

Comments

you're wrong, we are in the start of the media attention, pre-mania phase.
+1 Reply
@Spansul, LOL, good confirmation of the Denial phase then. Thanks!
+2 Reply
Spansul joelsmalley
@joelsmalley, XD ok, see you in a month: BTC will be at 20k-25k$ at least
+1 Reply
@Spansul, and the Bull Trap! Keep 'em coming! ;-)
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Spansul joelsmalley
@joelsmalley, Many exchanges have collapse to verify new users. Millions of investors are coming.
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scazza2604 Spansul
@Spansul, Nope. Below 10k
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Nice chart. I expect that many who were caught holding air after the fall from 20000-ish would be looking to limit their losses, thereby selling off. So the rebound to around 114000 (at this time) may not go much further (not a prediction - as I could be wrong). There is also a bunch of new hopefuls pushing price up. However, this has been an overheated market which is still bearish from a daily perspective. Sellers should predominate. A lot of people buying into the recent rally would also be looking to take profits, cuz they know this is a bear market. They would wanna take profits before price moves south i.e. they got lucky.

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I still come back to this chart and hit play just because its so damn satisfying. nice job.
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Gosh, "Bull Trap" was almost spot on, now heading for "Back to normal". I see $23K and then Fear, then Despair. (Should have bought XRP by then).
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