Sometimes simple things are more effective. And when it comes to bitcoin charts there are a many ways charts can be analyzed.
For me keeping it simple and focus on the main thing is always key. To that end there are two things that are overwhelming this year:
In the beginning of the year bitcoin immediately crashed toward 6k and almost touched it for like a nanosecond before rallying back up and doing this over about 6 times so far.
About one year ago is when we breached 6k for the first time. Now we have come back to the same level and are holding very still.
I cannot imagine that bitcoin will stay this low in volatility and am sure that a breakout will happen one way or another.
In the past, these low volatility spots came in times of bottoms. I remember in 2015 similar low volatility and boring bitcoin times.
We went this year from extreme volatility to the most boring asset when it comes to volatility. So bitcoin has done this curve or 1/2 circle.
As a perma bull, I tend to see the upside. That upside means the other side of this circle could be upon us.
However, I feel that 6k is still fairly high and a crash as Tone Vays predicts towards 1k is also very likely. As a result, like the market I am frozen in my action waiting for the breakout one way or another.
*****************************************************************
We have built a new service that will help you get upvotes using your own SteemPower.
Or you can sign up here: https://steem-bounty.com/services/vote-club
Thank you very much for your attention and we hope you will vote for us as witness!
In order to do so you can go to:
https://steemit.com/~witnesses
And enter the "steem-bounty" account into the text field and click vote.
Or use steem-connect to vote directly for us as Steem witness!
