In this update I want to share my view on Bitcoin.
During the week, I will share my analysis and trading updates on my trading feed. My account EdwinVandenBerg will be used to trade the US and European stock markets and Bitcoin. Sign up for a free account et eToro and follow my trades.
My bond portfolio (short sovereign EU bonds – The Real Bubble Trade) is a flatliner, not much happening yet…but I’m in no rush at all as this is a long term trading idea and a hedge against rising interest rates.
My portfolio at Poloniex (cryptocurrencies) is up >400% (madness, sometimes I wonder if it isn’t the next Tulip Mania) since the start of 2017.
Enjoy the charts below and your weekend!
Bitcoin Weekly Chart
Let’s make it a Real Bubble…price action up till now is just peanuts.
15k for April 2018 sounds like a nice target from the parabolic pattern. That would freak out a lot of people…and make some others filthy rich. Just make sure you’re not the last one to join the party
In the end, parabolic price movements never end well…
BITCOIN DAILY CHART – Wave 4 down, wave 5 up?