Is the Bitcoin bubble about to burst?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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BTCUSD is worth a short for you risky traders. Is this bubble ready to burst? Well it's followed the bubble mania pattern as shown here:
Any updates for us now?
@winsoar, yeah, don't trade in crypto haha, I replied to @Sancho1883 take a look at my reply to him!
I dont know why this has randomly come up on my feed now, but damn, you called it good.
@Sancho1883, haha thank you... trouble with calling something like this is that it's extremely risky to short sell because of the strong bullish movement it's had in the previous months.

My technical analysis tells me BTC is going to break out of it's closing wedge soon, aiming for highs again! perhaps not as high as it once was, but possibly the 11k mark.

My stronger opinion however is that BTC is going to die in the next few years. It's currently only required in order to purchase other cryptocurrencies. The transaction times and fees have quickly become dated with the likes of Litecoin etc being far more superior. I personally would stay away from any and all cryptocurrencies just due to the uncertainty of the markets at this time.

I think I'll stick to the foreign exchange markets for now :P
+1 Reply
kieronwiltshire kieronwiltshire
@kieronwiltshire, so yeah... it looks like my stronger opinion was right. It's on it's way down, heavy bearish movement is pushing BTC right down, at this point I would be confident in short selling, I would look for an opportunity to short, but again I don't trade cryptocurrencies so I'm going to stay away from it all :)
We just ended a 6 month 2 wave, a six month 5 wave abc correction and a 1 month abc correction...

50k by summer brudda
@CrytopherAu, I'm doubtful, imo a drop to the 5 - 7k range
+2 Reply
@CrytopherAu, still confident on that correction? I'm keen to know what you're thinking
CrytopherAu kieronwiltshire
@kieronwiltshire, It will go down to 7-8 where the (c) of the abc correction is.
@CrytopherAu, lol look at it now
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