DrewR

Rising Wedge as Long Term Price Formation

Long
MTGOX:BTCUSD   Bitcoin / U.S. Dollar
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5
Could we be forming a rising wedge long term? Historically on smaller time frames, bitcoin tends to break sideways or continue upwards even though statistically a rising wedge should break downwards. I wonder if that will translate on a much larger time frame; only time will tell (later part of December).

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If only that bad news out of China didn't hit!
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I'd agree with you if MACD would have held above -30.
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I like it. Good spotting on this one. I think this could be the rising wedge that eventually leads to this bubble bursting (maybe from $1500 ish) and crashing back to this $800 support level...
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