Bullish breakout rising wedge into rising wedge, Huobi, #bitcoin

Description

⋅ May 23, 2014 12:05 PM

So as you can see, we have the mythical bullish breakout of a rising wedge into another rising wedge... seen it here first folks.

Bitcoin (Cryptocurrency)huobi

Comments

Don_Bossa

⋅ May 23, 2014 12:14 PM

A rising wedge is a bearish signal, yea?

flibbr

⋅ May 23, 2014 12:16 PM

Well when they pop out.. they break down.. so yes... they are a bearish pattern... but this is bitcoin, the honey badger... bitcoin no give a shit for nothing in rally mode.. lol

Don_Bossa

⋅ May 23, 2014 12:16 PM

Very true. Bitcoin doesnt give a f**k about Technicals

flibbr

⋅ May 23, 2014 12:18 PM

Yeah.. in bear mode its pretty good.. in bull mode.. pedal to the metal.. this things got legs ! lol

grahvity

⋅ May 23, 2014 12:19 PM

But with it being this overbought, some relief in order. I'm not selling but I'm also not buying more with everything being pegged to the top in the higher time frames.

flibbr

⋅ May 23, 2014 12:23 PM

Yeah, read what 4xforecaster just wrote about overbought / oversold labels, tradingview.com/v/YntcRDde/

grahvity

⋅ May 23, 2014 12:28 PM

Good read. Thanks for pointing that out to me.

grahvity

⋅ May 23, 2014 12:08 PM

I retweeted this. I hope you don't make us look silly.

flibbr

⋅ May 23, 2014 12:10 PM

Haha. China makes us all look silly. They sell the thing down the drain.. then ride it just straight up vertical not a market sell in sight..