MoonTrader
Long

The squeeze is about to happen

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
I still say this one could go either way, but the market is starting to show a clear bullish preference based on the ascending triangle we appear to be in. A break above recent highs would create a good long opportunity and a break below recent lows would break the bullish trend and confirm bearish targets outlined on the chart. I'm marking this idea as "long" because there is simply no denying the probable outcome of the ascending triangle . When it breaks, the volume will come so I expect it to be a relatively strong move either way. For now, though, I'm actually pretty impressed that the bull market hasn't let up, even though I was kind of hoping for a move down first.

Oh, well. You can't trade based on preference if you expect to make money.

Donations welcome:
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the term "sqeeze" is typically used when traders are closing a position.. not entering a new one, ie short squeeze in equities or covering futures
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I'm using it to describe the price squeezing up against resistance while making higher lows. It's kind of like it's being squeezed into a narrow range and when breaks, it breaks hard like we just saw.
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its a good chart, without a fundamental view... its a coin toss.
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Update: I got my wish. Looks like we may be headed lower.
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blackswan PRO MoonTrader
still early... me thinks this is bear trap...
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MoonTrader blackswan
I doubt it. Sharp drops from a local top like that are rarely followed by a strong rally into bull territory.
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blackswan PRO MoonTrader
So as i was saying it indeed turned out to be a bear trap... hope you all made some money.
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vortexspaces blackswan
lol trap
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vortexspaces blackswan
down and only down
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