During one of the office lunches at NEAR we've discussed the idea that it's impossible to code cross-handed cause your muscle memory remembers different keys layout. Then I saw Illia (one of the co-founders) pulling hands way to far to the back and I mentioned that you still can't code backwards. That's when the idea was born and immediately tested by Alex Skidanov (another co-founder).

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I decided to start drawing. This is the first episode of the series of comics I want to create. Inspired by the book "The Incredible Story of The Giant Pear" by Jakob Martin Strid (which I read for my daughter Liza a million times).

Drawing simple stories is probably the best way to learn. Let me know what you think, I would appreciate comments and support ❤️

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A lot of people see a descending triangle pattern for the bitcoin price in USD as a bearish signal, but I'm bullish in a longer term. Let me first explain what's the 'Descending Triangle'

DEFINITION of 'Descending Triangle'
A descending triangle is a bearish chart pattern used in technical analysis that is created by drawing one trendline that connects a series of lower highs and a second horizontal trendline that connects a series of lows. Often times, traders watch for a move below the lower support trendline because it suggests that the downward momentum is building and a breakdown is imminent. Once the breakdown occurs, traders enter into short positions and aggressively help push the price of the asset even lower.

source https://www.investopedia.com/terms/d/descendingtriangle.asp

I agree that's a common descending triangle is a bearing signal in a shorter term. But in I believe it would quickly reverse and turn bullish in the long term.

I've started tracking bitcoin price since the April of 2016. The price started to recover after the end of 2013 bubble burst. Eventually, I found a very interesting support line in logarithm price of BTC. It's when we use a log scale on Y-axis, or simply Y = log(X) where X is the price.
The support line starts almost from the moment BTC was listed on the first exchange. I use data from Bitstamp since it has even more data than Coinbase.

Let's compare the situation now vs post-bubble of 2013:

• It's used worldwide for certain international payments.
• Bitcoin futures are traded on CBOE, so large institutional investors are participating.
• Fidelity announced their support for cryptocurrency trading.
• 401(k) can be invested in bitcoin using ETFs like GBTC.
• The hashrate and the difficulty of bitcoin network keep growing.
• The decentralization and security of the network are good as well since no 3 mining pool combined control more than 50%.
• Of course, there is a ton of altcoins and shitcoins (not counting all already failed ICOs). But bitcoin is dominating the total cryptocurrency market cap by being more than 50% of the total.

So coming back to technical analysis, let's combine the long-term support line with the descending triangle. While writing this post, I've redrawn all of my lines and reworked the analysis. Once I properly adjusted the support line to best fit the data from Sep 2015 (post-bubble recovery) to March 2017 (new bubble start), I found some mistakes in my previous charts.
There still a room for price to fall toward the log support line, but in the long-term, the outlook is very bullish.

I'm long some bitcoin now and would add more on the dip.

As a final note, make sure you don't confuse BTC core with shitcoins forks like BCH (bitcoin cash) or BTG (bitcoin gold).

Charts screenshots are done using tradingview.com. They are doing fantastic work with their browser native HTML5 implementation. Huge thanks to them.

Whether you like the analysis or have any feedback, please leave a comment below.

Never invest more than you are willing to lose.
The information provided by this post and accompanying material is for informational purposes only.  It should not be considered legal or financial advice.  You should consult with an attorney or other professional to determine what may be best for your individual needs.

Let's start with an example. We remember seeing a number in a dream. This number was super legit and also clear. But after waking up we can't remember the exact number.

The reason is how our vision works and how we remember things. When we look at a number, we get the raw image data through our eyes. Our brain process it similar to deep convolutional neural nets and converts it to a high-level representation.

To remember the number we build associations and find patterns in it. For example 33449, it starts with double 3, then double 4 (next digit after 3) and ends with 9. Easy.

But when you're dreaming the vision part of your brain is not working. You're not seeing raw data, so the numbers you see are already in their higher-level representation. It's actually possible that there are no numbers at all.

You're likely dreaming in even higher-level representation than digits. What happens next in the vision process is you convert the number to its meaning. Say, this is your pin code, or this is your height, or it is the amount of money you have in the bank. Basically, you don't care about the exact number anymore, but you know this number is legit, has some patterns that would help to reconstruct it if needed and it represents exactly the things it needs to represent. So in your dream, you don't need to get the reconstruction part. All you need is the final meaning.

When you wake up,  you don't have the unique number from the dream. So your consciousness uses your real memory and the meaning from the dream to reconstruct the best-fitting number.

I've made an interesting observation. Closer to the moment when you are naturally waking up, more parts of your brain are joining the dream. You start to see more details and connect them to your memory. This causes discrepancies in the story and you realize that it's a just dream. It's also possible that you can make more decisions closer to being awake.

Anyway, dreams are a fascinating topic. I love seeing dreams, but having a kid who doesn't like to go to sleep early and an alarm for work doesn't help at all. Happy dreaming.