Up to $434, then short.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Nice 3 drives pattern here breaking out of a small descending wedge to the upside. Next target is $434 before a pullback.


no retest of 380 before leg up? were so oversold
+1 Reply
MoonTrader BitcoinGuru
No, that trend line is too important to just cross back and forth like that. We're over and we're going to stay over. Oversold schmoversold. The biggest moves happen in oversold territory.
MoonTrader BitcoinGuru
Oh, and I think you mean overbought.
In my opinion we will see 520$ as soon, and if this price will hold, we could confirm that tha trend is changed!
MoonTrader RamaDeda
IMO, we've already confirmed that by breaking the medium-term downtrend, which is represented by the thick blue line on my chart.
MoonTrader MoonTrader
To clarify, this chart is about short term-trades. I think the medium-term trend is already up. That doesn't mean the long-term trend is up just yet. We have another major downtrend to break before that happens.
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