YaKa

Bitcoin - Linear Perspective

BITSTAMP:BTCUSD   Bitcoin / Dollar
631 11 12
240/195 is the cliff             in linear.

so to summarise

Log key support 260

Linear key support: 240/195...

Below that: Air Pocket to 120, 60, 13?

What goes up outrageously for no tangible reason other than speculation can easily do the same on the way down.

There are key technical levels - A breach of those would open to new dynamics.
johnrfraser
2 years ago
Why 240?
Reply
johnrfraser johnrfraser
2 years ago
Sorry. I see...where today hits long term downward support line.
+1 Reply
johnrfraser
2 years ago
resistance turned support at about $122, this looks a more obvious price point than $65, no?
Reply
YaKa PRO johnrfraser
2 years ago
It does not matter much... i refine around key targets.. Now the price needs to deal with 260/240/195... then 100ish.. but you know after that the psychology of the longs will be so eroded that it might slide slowly through everything.
I Think the bulk of the move down could be an acceleration to 100... then it may be slow with rebounds, until the oscilloscope becomes as flat as it was pre 2013.
+1 Reply
YaKa PRO
2 years ago
2 days; 50usd.
These moves can last 9/13 days...
at this rate, 100 is very close.
Reply
YaKa PRO
2 years ago
NOTE:

IT TOOK 11 DAYS FROM 400 to 1100 BEFORE COLLAPSING. NEARLY 300% IN 11 DAYS... No this is is not speculation:)

LET'S SEE WHAT 11 DAYS DOES FROM HERE ON THE WAY DOWN (316 2 DAYS AGO).

DAY 2: - 60 USD
+2 Reply
IvanLabrie PRO YaKa
2 years ago
I agree, the decline will be fast and furious once bulls lose their patience.
+1 Reply
MoonTrader
2 years ago
Those lines you drew are good lines and are reasonable targets. The bear scare, however, which hasn't really come true in over a year, is what makes me think it's going to reverse before getting below the linear trend line.
Reply
YaKa PRO MoonTrader
2 years ago
I would be well annoyed if I had to take a decision now but FORCED TO TRADE I WOULD GO SHORT.
Every Technical Analyst conclusion would be to buy here and it is valid from charts but here is the thing. The pattern is good on assets that are not only speculative... the move from 400 to 1100 in 11 days is indication of the intrinsic value of this "asset".... I dont know.. we ll see.
+1 Reply
MoonTrader YaKa
2 years ago
Yep. Short until $225 or so.
Reply
jangseohee
2 years ago
Does linear & log converge?
BTCUSD, double support to be tested
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out