BMoom

Bitcoin - Descending Wedge

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Just an idea to put out there to watch. Possible bullish daily descending wedge . Could breakout from this area or one more pull back one more time.

Breaking out and trading over the 1 and 2 candle would be a very good sign. REI looks to be saying we bottomed for now.

There will be strong resistance above to watch when we breakout. I'm about 50/50 on if the bottom is in.
Comment: I'm now watching the $42.5 area. There is a good bit of resistance there.


200 day SMA


4 hour sell zone top. Currently on an 8 of 9 count and hung up on the TD risk line.


21 Week EMA. Don't mind the blue lines, yet... That my more bearish outlooks and may be something I publish later.

All of the above are in the $42.5K area, and it looks like we are on course to hit on a 4 hour TD9 Sell, assuming we break the risk line.


On the weekly, I do like RSI broke above trend and NVT has a bottom look to it.


Pulling into the death cross of the 7 and 30 week SMA. If we break above, I'll be interested in the 18 WMA, red.