Hi guys & girls, I swear I hate being the only negative one here but I'm just trying to bring a second opinion so you can see both sides of the coin.
So I went to google and I typed 'stages of a bubble', what I found was the image I shared below and other very similar ones, all over the web. So I put it next to the current one day candles chart for ETH/BTC from bittrex. Does it look similar? Do you think is just coincidence?
MAIN STAGES OF A BUBBLE:
Did you buy in this dip? Be aware of the Bull trap.
1 DAY & 1 WEEK CANDLES ETH/BTC (BITTREX):
Even if I didn't know nothing about cryptos or bubbles, by looking at the charts below I would still think we're inside a bear channel.
Conclusion:
I think that the bull trap has worked out well cause we can see a lot of people have actually bought that dip. I expect to break up that down trend channel for a bit so everybody think we are 'returning to normal' which will prove the bull trap to be true. After that I expect the smart investors to sell off till we're back down to around 0.050 BTC
What do you think?