I wanted to get this latest version of the weekly chart out on display to make some comments. There is no evidence to suggest this rally, now 7 weeks old, will last. There is no . The angle is too vertical. It could be the result of panic in EU land. I pointed out some reasons in previous comments. It doesn't appear to be solidly China related. I invite comment.
There are actually 3 rallies going on simultaneously. I have marked each. The fundamental over 2 year rally marked with the solid red . The 20 week rally marked with a dotted red and the current 7 week rally marked with a dotted red . None are showing a break in the trend.
A break in the 7 week trend will be a dramatic event. Price could pull back 25% to the 20 week . When? Soon, maybe. Be cautious. Take down some profit for a rainy day and enjoy the ride.
Now, what part of "free market" doesn't this No-Name understand. IT'S FOR THE CONSUMERS PROTECTION DON'T YA KNOW. Before the PBoC reared it's ugly head terminated tentacles, was there anyone complaining about free transaction fees? Did I hear one complaint about making it easy to leverage their trade? Did anyone complain about being free to move their money wherever and whenever they want? Next they'll tell us that BTC transactions cause global climate change and they are only regulating it for the good of the children. What a bunch of idiot clowns.
A worthy article about the current state of Bitcoin. The author points out new enthusiasm in Mexico. There is heavy manipulation in the silver market today. Someone dropped a $12B bomb on the market causing a deep flash crash. The Mexican central bank may be at play here. The Peso has been in free fall ever since Trump got elected. This is causing the price of petrol to sky rocket in Mexico causing wide spread unrest. This new PANIC may be the basis for the 7 week BTC rally.