MoonTrader
Long

Something big is about to happen

BITSTAMP:BTCUSD   Bitcoin / Dollar
As we take a step back and look at the bigger picture, you'll notice we're right at baseline support at the bear trap before the big China bubble. I would advise being patient with this one because there are still a number of possible scenarios that could play out. I'm becoming slightly more bullish but still looking for a possible double bottom at $16x.

No trades yet, but short below $210 and long above $240. We could stay in consolidation for a while longer before anything happens, so I would highly advise being patient with this one and not trading on a hunch here. My last idea was quite bearish , and I will link to it, but you'll notice I only ever really expected to test the recent lows. Beyond that is speculation. That said, new lows aren't looking realistic at this point due to the sheer length of time we've been under this downtrend along with strong baseline support.

I'm cautiously bullish but waiting to see if we will test the recent lows first.

end of the triangle coincides with USM auction and probably ETF launch ... we'll see!
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my thoughts exactly. i was looking at the daily bitfinex chart and saw some striking similarities for today vs. May 12th/13th of 2014. calm before the pump. or...it could mean sideway action to beginning of march just like you've shown here.
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UPDATE:

Looks like we're breaking out of $240 right now, which was my breakout level. Time to go long.
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Great chart. Indeed if it breaks the strong resistance from 2014 bubble a good pump would happen.
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very nicely done
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