The 1-week Bitcoin/$USD chart correction is nearing completion. That chart range started correcting around the end of July when the big dump-down from the 5180 Hobular high occured.
That correction also painted the handle onto the humungous 3-year cup and handle formation thats been forming since the 2013 China-driven $1200 ATH.
The timing of events seems to be pointing to a perfect storm towards the end of the year, possibly consisting of Lightning Network arrival, Segwit, BTC Developer & mining consensus putting previous confrontations to bed and an array of chart technicals going green. Things would then be in place for the Wrinklyboss ETF to turn up and light the touchpaper on the tinder pile.
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spot on
one caveat: fundamentally we don't know what will be the catalyst exactly, but any sort of conclusion of the "scaling" debate will do. Might even be a - lo and behold - successfull hardfork to unlimited
I am pretty sceptical regarding the application of TA to Bitcoin. With pumps & dumps in place, and mass speculation being the main driving force, you may paint pretty much any pattern on the charts and then deny it. I mean I wouldn't mind this cup and handle to play out as suggested, but I doubt it happens.
Indeed this is quite less real or a good thing to do. But if we have a mindset that wonderful then I think it's not something a bad thing. because of the nature of the world trading always starts with it all so nothing bad if we know which to do and which ones should be used. It's all already there when we trade .The world of trading is indeed full of uncertainties. But if it is we can do well then that was once the uncertainty is going to be a very definite advantage