Re: Speculation Rule: buy when others are irrationally pessimistic or too cautious
$1300 in 2017, probably within 6 months or less. We've broken out above $788 Bitfinex-hack high, accelerating, opening wedge, and two flag patterns. This is uber bullish.
It is not possible to give a precise price point and timing. But we need to hit the extension of that upper green line at some point. So before summer 2017, it projects $1400 - $1500.
We could head there very quickly or we could meander.
My gut says we are headed there ($1300ish) very quickly to a new ATH, then after that we will perhaps meander before going much higher. But it could be the other way, we meander, then later in Spring blast through $1300 to much higher prices.
Thanks for the quick reply, much appreciated.
1. Don't you think it's bearish to think for only $1.5K for 2017, unless you meant only the summer of 2017 ?
2. Where do you think we will top at 31.Dec ?