Seriously - Bitcoin is at top of a weekly bollinger band. If it stay here for few days - new short term bubble will start.

We need to break the Bollinger band, or we will just see a Bollinger bounce and head back down to the middle.

Price action, volume, it all looks quite good to me... the problem is, bid side is depleting rapidly (stamp and finex), which makes me wonder how long this one will last.

Any thoughts on that, luc?

I don't have idea what is "bid side" in TA.

Ratio of total bids vs. total asks, for example.

Bitstamp




Bitfinex




Not a perfectly reliable indicator obviously ("hidden" coins/USD, orderbook being painted), but strong divergences (such as now) tend to show an effect, by my experience.

But I guess what you're saying is: fuck the order book?

What would be a target price for that short term bubble?

You can't survive on selling bananas alone.

I didn't. I said probably. Downtrend in Bitcoin isn't parabolic. I can't say it's over until price leave trend channel plus some indicators to identify start of strong reversal.

It was by this way:
1. I identified big bullish wedge and according to it's typical count assumed there should be throw over the bottom line and it should be a bottom. Actually it was. I declared LONG at 270.
2. Once price left wedge to upside - there was no blow up action - just flat. I suggested that there should be other hints leaving downtrend and started to monitor logarithmic trend. Along with that there was a possibility for new lows.
3. Silence period was prolonged and I discovered weekly sma200 at ~210 which looked as massive resistance and not gonna surrender. So the further path should be probably up like in 2012.
4. Then was clear impulsive move up to logarithmic trend line and break of it. And I said I see the moon.
5. Today is last week day and price is above weekly upper bb. And I say now we sit at  Cape Canaveral in a rocket of Appolo mission of new moon discovery. Operator counts down.

Parabolic top may be identified more accurately. Because once it stops acceleration - it will crash. In 2013 ATH first (266) and second (1200) I saw clear signs of slowing down rise acceleration and said it's over. And it was over less than day. 50% crash was after.

TLDR: I can't identify a bottom in it's time. I can identify bottom after price already far from it. But I can identify parabolic top, while price in it.

Of course rally will come eventually. I'm just trying to figure out what to do now - to sell or not to sell