"[ BITSTAMP ] - Bullish Bat" by trader MagnusTradingGroup — published July 30, 2014

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Bitcoin / U.S. Dollar (BITSTAMP:BTCUSD)

BITSTAMP:BTCUSD Bitcoin / U.S. Dollar

Bullish Patterns Bat

bullish batpattern

D has to stay above X (554.45) for this bullish bat to be valid.
Potential reverals zone (PRZ) is therefore between the X level and
the required minimum retracement of 0.886 of XA.

First target: 604 but it should go higher after a 25% retracement

Related Ideas

about BTCUSD 11

do you believe we are still heading up to 640? bulls are not able to break past 600 been a week.
I believe we will retest 555 again. What do u think?

BitcoinGuru

more sideways seems likely. im experimenting with a little short atm but that's just me ^^

Intriguing how accurate this played out :O

Anne24

indeed

great job and you were indeed right! so 604 is the first target where I will probably sell and rebuy on the retracement (lower) than not sure if we can reach 640 but I guess will see

Does the cross above D make it a buy signal now?

MoonTrader

it was a buy signal already when we started bouncing in the PRZ (potential reversal zone)
as of now, I'd let it settle down a bit and rebuy at 581-578

how about my bearish bats? :P

So D is below X on market-leading exchanges, what now?

HerSerenity

crash

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