I think you did not factor in the profound resilience of Bitcoin in drawing your conclusion. The market have moved beyond China's gimmicks after their latest onslaught and the only thing ahead capable of holding Bitcoin back is the looming hard fork/split of the network. Should that end as a nonevent then the doors for great leap in price of Bitcoin just got thrown apart.

 I understand how price action works, but your assertion that you use no indicators need to be corrected, because the pivot points I see in the image are price-based level indicator that helps a trader spot support and resistance levels in the market.
As we have come to know it, Bitcoin have always shown propensity to go up, because more adoption readily translates to more demand and the only explanation for above market set up is that market has began marking time for the outcome of proposed hard fork next month and which is by the corner.

Looks to me all that are going to be on hold pending what becomes of the network after the next leg of Segwit2x, which unfortunately is a hard fork. November is already in view and I think most traders and investors are now sitting on the fence awaiting the answers to the fundamental scaling questions.

In theory trading altcoins might seem appealing than holding Bitcoin, but practically they are not. Altcoins are speculative tools and are full of surprises at the end of the day, it is the whales that manipulate their way to profit, while small players are left with just hopes that it would pump again soon.

From the list, something that is not immediately obvious and that could throw more light on what transpired is that as the years went by, awareness and adoption increased and so does the value of Bitcoin. Ordinarily the fluctuations in price were not going to be that pronounced but for PBoC meddlesome tendencies. At the end of the day, Bitcoin always bounces back and that should be the final message to all bitcoiners.

I don't see the investors or traders that are panicking and if that were to be the case, the strong support Bitcoin experienced around the $3000 price level won't have been that formidable and you can see market have not gone that low again after many days. The market is anticipating the proposed hard fork come November, until then we would be seeing a more or less dull market.

You're right, the market is lacking in momentum because people are a bit apprehensive about what would become of the proposed hard fork of the network is going to unfold. The proponents of Segwit2x and Bitcoin core are still having divergent opinions and those are sure to rob on the network. Wait n see is the name of the game!

Some poor people are arrogant too, so the problem is not with the money par se, but the attitude of a person. If you have money and able to remain in control, that is how it should be, but when money is the one in charge, then everything is out of control because such a person would be no less a beast!

Beyond that a whole lot of other altcoins and tokens depend on it for existence and that can be viewed from the point of view of a huge community base and by extension a liquid market thriving with buyers and sellers.

There never was such a state and never shall be, because Bitcoin is perceived as a threat by most governments, especially the ones with somethings to hide. If it were such, that they were able to call the shots and manipulate Bitcoin the way they do with their local currencies, all these dust in the air and finger pointing won't have arisen in the first place. At any rate, it is nothing to lose sleep for, Bitcoin is a dark horse, this line of action will only end up making Bitcoin more popular and valuable.

There are reasons why some people would continue to ignore Bitcoin:

1.  some people just don't want to put their faith one more time on another internet money after all they have heard or experienced;

2. Bitcoin and the technology behind it, is knowledge based and that already is a barrier for many;

3. infrastructure and communication devices are elusive and a luxury in some part of the globe.

Seriously  you're not on this boat and you would end up  confusing and misleading newbies with such falsehood!

In recent times, the transaction fees of Bitcoin have been quite high and there are delays in confirmation time - they say the network is congested. The community is however, very concerned about the development because very low transaction fees and fast confirmation used to be the hallmarks of Bitcoin. The signalling and activation of Segwit is a move geared to resuscitate all that and soon we might be able to have cheap and fast transactions again.

Ethereum is the second most capitalized coin after Bitcoin, so it is a good competition for Bitcoin and so at times like this when Bitcoin would be facing some fundamental issues, I think holding your Ether would be well wort it. If I may, what approach or method did you use in turning $260 to 50 Ether?

You might want to take cognizance of the fact that the leap from $9.04 in 2012 to well over $1000 and then down to $301.20 in 2013 was orchestrated by China's massive adoption  of Bitcoin and then PBoC first attempt to keep Chinese people away from it. Price eventually soared afterwards. Now it's the globe that is fast embracing and driving the price of Bitcoin up and China again have stepped in to burst the bubble. I hope there're people who can figure out that history is about to repeat itself?

You're absolutely right, nothing compares to God!

Money is very good because it answers to many things - it can make life much better and enjoyable, it does save life. However, when we become a slave to it, that is when problem begins, because then one becomes susceptible to commit crimes like stealing or even killing to have their way. Actually poverty is the worst ailment that can afflict anyone - little wonder, some people can do just about anything to avoid it, but that's wrong, too much of anything have always proven to be bad!

I doubt if you hit the right button there, because the days are far gone when one's success is tied to the size of their muscles or how hard they can work. These days, no matter how hard one tries to work, if they're not backed by sound knowledge and experience, that would enable then work smarter and safer, they most likely end up doing much about nothing.

As for what to do so to be able to earn more out of trading, I will like to add that after knowledge, experience and skills the crowning factor would be the display of strength and discipline through patience.

I think it is a credible idea to start buying more Bitcoin now, but no longer all at once as you did before, instead buy a little and wait to buy more if price drops further to a certain level and you'll turn around to be ahead of the game. At any rate, your first step forward should be the realization that you need trading knowledge and skills to find your feet in trading, else it can be such a pain.

As we warm up for a proposed hard fork in November, the price of Bitcoin is likely to rally above your purchase price before settling lower to await the outcome of the scaling decision. Would not be a bad idea to offload half of your hodl and then followup  the market to buy again after a bottom is confirmed.

Well life is two: good and bad; high and low; profit and loss; man and woman, etc, you can never have just one because it is the other leg that makes the entire picture complete and meaningful. At any rate, if you are or become knowledgeable about the market, you would be able to follow and handle "bad issues" as you call them.

I am thinking Treasury Bills, bonds and ETFs would entail lot of studies and getting used to, but we can without much ado also achieve low volatility and stability with a cryptocurrency like Dogecoin. Presently it is very low and thus present not just a safe haven, but also an opportunity for huge profit making, when price rallies again.

Thanks for the vouch copy, I enjoyed  it and want to subscribe now, sent you a PM!!