SLOPolarBear

Target in chart. Keep and eye on rotation out of gold into crypto or other. Gold is losing it luster among younger investors. Digital property is making waves right now.

Now thru April (possibly May!) my price targets are red. Blue dashes paint the long term trend. We're priced in for 10 years right now. That's going to create volatility between 60k and 45k in the near term. Long term, I expect a pullback to $3900. We've had momentum support (broadening rays) without horizontal support since the first market. Pretty common for highly hyped assets. DCA along that blue dash highway if you're in it for the long run. I would like to see the crypto 'currency' Bit'coin' behaving more like a currency, but for now it's fun to speculate and keep this goose laying golden eggs. Just be mindful of the fact that you still can't buy a latte with Satoshi's yet in any major retailer. There is no intrinsic value here. Opportunity cost here is 'all other investment asset classes are massively overvalued'. Food for thought: we're getting close to the market cap of Bitcoin touching Apple stock. Opportunity cost at that point is a simple question, would you rather buy 'shares' of Apple (a company with a significant book value and assets that bring in future economic value --at least until their EPS falls) or Bitcoin (a life boat currently accepting guests from the USD but without any intrinsic value -- given the failure to offer value for value as in basic contract law it's likely to become another Volatility meter rather than a functioning currency.Watch out if we're still poking tooth picks into $68,173 by the end of the second week in April. I suspect that the next major dip will be in early April.

Broadening ranges are printing a Half Dome. We know how this plays out.

When this thing finally implodes I suspect we'll see a return to $439. Very possible market will demand price return lower than $1. This is a savings account that everyone is dumping their money into as a collective. The problem is, any member of this collective can empty the savings account rapidly diminishing the 'value' (appreciation) in the process. Perfect way to 'burn up money' if you think about it. Almost a perfect device to counteract the effects of quantitative easing.

Not ready yet! Watch for a double-bottom divergence on RSI/MACD. That will trigger a massive increase in volume to push us up above the handle. A break above the rim is confirmation. I'm personally interested in allocating 5% of my portfolio to this anticipated move in light of US/global monetary/economic conditions. Looking for a BUY signal around 1550 give or take.1-month later, analysis holding up. It may not break down to 1550. But that would be an ideal price target. This is a massive C&H, it's going to need some time and volume to breakout.Correction in progress...