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Adam_Polinak
Jul 21, 2019 3:42 AM

BTCUSD Possible Long Targets Long

Bitcoin / United States DollarCoinbase

Description

T1 11.5K
T2 13K
T3 14.5K

Comment

Targeting 2:1 currently

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Comments
BitcoinCensus
I'm more bull than bear because I believe adoption has been on the rise for 10 years, but, I was trying to play the swings. That did not work for me in this case. But in reply to your latest chart. I have a few reason to believe we could resume growth shortly.

BitcoinCensus
@BitcoinCensus, the 34 Day EMA is the blue drawn line with the bumps that ends in dashes (I would call that bullish at the moment even though we crossed it - with all the fast movement I think the "true" 34 EMA is a little lower than the calculated one).

We are also possibly in the corner of a bull flag. That just implies a pivot point, could drop fast or rise fast.

I plotted a loose trend line from the recent low. We are still currently above it - bullish.

The Stoch indicator at the bottom - I'm new to that but crossing below 20 is typically a buy signal or implies a buy signal is almost here.

Taken together, I thin the data is pointing more bullish than bearish.
BitcoinCensus
@BitcoinCensus, here is an updated view on my chart
BitcoinCensus
I agree with your analysis that we broke free from the downward channel. Too bad for me, I was betting we had not, but I was wrong.
Adam_Polinak
@BitcoinCensus, I'm biased cause I'm long, still watching here...
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