Was checking out the 6 month chart and it looks like Bitcoin is due for a dive to $600-$700 ? Maybe in the 1400-1500 Range. I mean just look at the charts, 6 months, 1 year , 2 year i mean really are we building liberty tower 2 here ?
I'm a major Bitcoin Bull overall but i'm hunting for a good dip for some new cash buying, looking at the chart + volume levels it doesn't look sustainable on the short term. Holiday season now approaching so volumes will continue to decrease, latecomers of this boom are just starting to buy praying to the Gods for $2000 so they can double their investment in 2 weeks.
The thing that happened few days ago was a minor flash correction, didn't really count if you were asleep you wouldn't even know it happened. It will be very interesting 2 weeks, can bitcoin do magic or will it follow the same pattern it always did in the past (major correction and bottom out a bit till the next run just like every other growing investment/asset/currency)
Thoughts ?
