It's time to zoom out

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
5460 44
Euphoric finish on the super high timeframe charts here. One hell of a year we've had.

This is my opinion on how euphoric trends finish. You can see similar logic in the comments of my linked article on the oil market bottom in 2015, and also the comparison chart shown here. When a trend compresses and becomes crazier and crazier... that's the candle you're looking for.

Though being real, I've been bear for quite a long time on this market. Bit too early, #weakhands. But this is just ridiculous. We need to cool off for a while. Not to mention end of year positions closing.
Comment: This is the kind of example I've had in the past on the structure of falling wedges and euphoric finishes for markets.
Comment: This chart is aging well.

Dip buyers should start preparing.
Trade active:

Buy the dip, average down your spot buys. I'm 50% deep
Comment: 80%
Comment: 100%

Margin long capitulation is all I'm watching now

Price is in freefall, capitulation candle. Shit is getting spicy
Comment: Daily close looks promising. Record 1D volume on all exchanges, green hammer seems probable. Choo choo.
Comment: $1500 in profit, took off a third of the posistion


50% scaled out of the posistion, daily RSI has broken out, quarterlies out of sellers after closing into the margin short liquidation.

Let's goooooo
Comment: 75%
Trade closed: target reached: #weakhands

All out, thanks for the ride.

I miss your charts...
+1 Reply
Enhancement321 trident_71
@trident_71, The whole crypto-sphere has been hit hard.

A world currency (dubbed 'Phoenix') predicted to be in existence by 2018, in a January 1988 'The Economist' editorial:

"THIRTY years from now, Americans, Japanese, Europeans, and people in many other rich countries, and some relatively poor ones will probably be paying for their shopping with the same currency. Prices will be quoted not in dollars, yen or D-marks but in, let’s say, the phoenix. The phoenix will be favoured by companies and shoppers because it will be more convenient than today’s national currencies, which by then will seem a quaint cause of much disruption to economic life in the last twentieth century."

can you kindly update this chart please? :)
+1 Reply
Is it looking like another failed attempt at break from downtrend line or a repeat from the previous time it double bottomed?
+1 Reply
@lowstrife PUMP, PUMP, PUMP! https://cointelegraph.com/news/breaking-mobile-payments-app-circle-acquires-crypto-exchange-poloniex-for-400-mln


"The same situation with cryptocurrencies, but this is only the beginning" Master EXCAVO
that little scirbble was spot on +1
+2 Reply
Does this mean you're no longer long on btc and hold no position? Do you see a new ATH in the near future?
+1 Reply
@Lirio, IMHO I would say yes to your first question. To your second, IMHO $50,000 BTCUSD by the end of 2018.
Please give your updates in our language :) we are just poor noobs who doesnt understand too much technical :) what does it mean %75? is it good or bad? hahah :) thanks!
+1 Reply
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