BITCOIN FRENZY: BEWARE

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This is not a prediction. The daily chart of BTC is actually showing no surprises. But if you read lamestream media you will see how people are scratching their heads about a recent pump north on BTC.

There are two important structure areas. The recent pump came off one of them - because 'everybody' was thinking the same thing.

The next structure area is in sight around 50,000. I don't know - nor can I predict that price will bounce south off 50,000-ish. What I can imagine of human nature is that 'everybody' might get the same idea to dump around that price point.

ATR switches on the daily time frame have about a 55% reliability (from my own experience) - which is better than rolling dice. I don't know if price will get into the higher troubled zone. It could collapse now. I just don't know.

Nothing in this post is to be relied upon, because am not a fortune teller. See the fat disclaimer below and on the chart.

Disclaimers: This is not advice or encouragement to trade securities on live accounts. Chart positions shown are not suggestions intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which have a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.

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And they're off! In a 1 hour trend north. We shall see.