I cleared the ichimoku and drew a curve from 2016's bull run.
Without taking the parabolic movement in 2017 into account, we can see that despite the over-correction - which is very contained because of HODLers not panic-selling - we are again back up on top of the bullish curve.
We need to keep in mind that with Bitmex offering shorting contracts, the overselling situation will increase over time as more money comes in (which it has). So instead of the smooth bull run, despite the volatile movements, we will be seeing a more messy chart from now on as more shorting takes place. I expect to see more criss-crossing of this curve on our way to USD 1 Million Bitcoin.
Without taking the parabolic movement in 2017 into account, we can see that despite the over-correction - which is very contained because of HODLers not panic-selling - we are again back up on top of the bullish curve.
We need to keep in mind that with Bitmex offering shorting contracts, the overselling situation will increase over time as more money comes in (which it has). So instead of the smooth bull run, despite the volatile movements, we will be seeing a more messy chart from now on as more shorting takes place. I expect to see more criss-crossing of this curve on our way to USD 1 Million Bitcoin.
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