Bitcoin consolidation phase within channel

22 Jan 2017

I speculate on a consolidation within the parallel channel, forming a handle after 3 year long cup / round bottom

Fundamentals update:

• Hashrate skyrocketing 2,985,271,637 GH/s
  
• COIN etf next news in march expected
  
• India about to ban cash
  
• Chinese exchanges want to add trading fees
  
• "Bitcoin Enthusiast Peter Thiel Joins Trump Transition Team"
  
• Scaling progress: Segwit and Parallel Validation
  
• Lightning Network ready (needs segwit)
  

In case of breaking down the channel, I would expect longer bearish cycle.

27 Jan 2017

Nota

daily cloud

27 Jan 2017

Nota

29 Jan 2017

Nota

“Blockchain technology is an extinction event to traditional financial institutions. Like the dinosaurs, a few will survive by morphing into agile birds at a small fraction of their previous weight and size, but most will just die.”

29 Jan 2017

Nota

falkvinge.net/2017/01/26/impressions-satoshi-roundtable-iii/

8 Feb 2017

Nota

btc hit its first target for this long consolidation move, cant break the old ath here at this time.

12 Feb 2017

Nota

moneyandstate.com/the-true-cost-of-bitcoin-transactions/

12 Mac 2017

Nota

even if china isnt leading anymore, this chart still shows the importance of the old china ath keylevel

27 Apr 2017

Nota

something happening in china, charts catching up, 6% up already.
Seems like we break the old ATH line and have a large symmetrical triangle

11 Mei 2017

Nota

china catching up and going 5 digits with breaking the 10k cny and is now in uncharted territory

20 Mei 2017

Nota

Impressive! Upper channel target hit, breaking out the channel could cause a 2013 style bubble.

2 Jun 2017

Nota

with withdrawal enabled for chinese exchanges the volume is soaring and so is the price. China trying to reach a new all time high.

17 Ogo 2017

Nota

Bitcoin hitting 30k cny is another milestone as the channel upper line has turned into support and triggered a launchpad.

7 Feb 2018

Nota

bumping this chart because its good to remember what happens after larges crashs: usually price ranges in the drop range for a while, most times it forms a triangle or another consolidation pattern within the range.