MoonTrader

Last hope for bulls?

BITFINEX:BTCUSD   Bitcoin / Dollar
In my last idea, I came across as rather bearish , although I thought I would note that it is not quite time to sell yet by zooming in to a shorter time frame. I think we are trading in a very short range right now, and no clear trend has developed over the last two weeks with either lower lows or higher highs, which can be frustrating. However, I think things are beginning to come to a head here, and if the market reverses and breaks out of this channel, we may think about becoming bullish again.

As I noted, there is a bullish moon coming up, so take that for what it's worth. Overall, though $395 still acts as hard resistance and $360 acts as hard support.

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Thanks!
ChartArt
2 years ago
Miracles do happen...
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sammantic ChartArt
2 years ago
ChartArt are you bearish? This still can break either way. Look at those Bollingers, so tight.
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sammantic sammantic
2 years ago
I wouldnt feel comfortable putting on a trade here long or short.
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ChartArt sammantic
2 years ago
It's hard to say. I didn't expected that all the scalpers buy back the logical low at the important Fibonacci / trend line area. I'm still bearish. But with this perfect bottom price in place it could also go up based on my own chart:

Bullish Bitcoin Pattern Seeks Confirmation
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ChartArt sammantic
2 years ago
But then there is also this more important long term chart I made using long term pivot points. If the bids are exciting this could have been the last low to buy low. Otherwise it's really the start of a new multi-week / several month downtrend:

The next 6 weeks will determine the Bitcoin price trend of 2015
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ChartArt sammantic
2 years ago
At least we are above a 50% Fibonacci retracement - aka my pink line - which could support the bulls:

The Bitcoin bull vs bear battle of Winter 2014
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BuyBitcoin.WS
2 years ago
u forgot to draw another downtrend: top is 475 to 387 and passes exactly by the last top of 377.
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