Benjamin_

Waiting For A Clear Break Of Direction

BITFINEX:BTCUSD   Bitcoin / Dollar
2936 33 21
All roads lead to the 200D Ema . Having broke through our Monthly R1 Pivot , 100D EMA and have now made a daily close above this we can assume this will act as future support.

The only thing which will invalidate this bullish run will be to break below 265/270. Since 300 is a huge psychological level expect a lot of chop between the two levels marked above.

Note the level on RSI since January 30th 2015.

Looking forward the next test is the R2 Monthly Pivot around 305 then our 200D Ema around 335.


Update Posted Below.
Please change your avatar, since there is a troll parading as you giving intentionally opposite advice here.
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Interesting! Thx, post more ideas! =)
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Update; Price appears to be consolidating around 290/298 for a move higher, RSI 40 continues to act as Bullish support so I would be looking for a break below this, the lower median parallel line and bottom support trendline to start looking for a move to the weekly Pivot and possibly lower towards the S1 at 258. North of this is still 305 then 330 for me.
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Benjamin_ Benjamin_
Here is the link to the live chart.  
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Benjamin_ Benjamin_
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Benjamin_ Benjamin_
Coming up on a "Massive" area.
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Hernz Benjamin_
Thanks for the update.
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This is one Bullish argument but I still think that lower parallel is attractive.
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Benjamin_ Benjamin_
Got the lower line touch I was after, after all.
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Bull Run Officially Over.
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feedthemcake1 Benjamin_
http://upload.wikimedia.org/wikipedia/commons/5/50/The_Bull.jpg
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Hernz Benjamin_
It was fun while it lasted.
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kenzboard PRO Benjamin_
Still waiting this this move. All this bullish hope has all but kept the price from tanking but now it's simply flat lining with horrifically boring price action.
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This is more to the point of what I am watching but depending how pedantic you are for log or arithmetic scale which the top chart is not and gives a completely different view using the Schiff Pitchfork depending on the scale used.
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Benjamin_ Benjamin_
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Benjamin_ Benjamin_
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Benjamin_ Benjamin_
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Zoltan Benjamin_
So you think 215 hold?
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I'm scaling back now as I never sell when we get this close to a big psychological support level as money tends to come out of the wood work. I'll only be trading futures from 220ish. In regards to your question you need to keep any and all s&r levels in mind along with potential harmonics. If this capitulates then it won't matter what the oscillators are saying it'll capitulate. In which case be nimble and by all means don't blow up your account trading this volatility.
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Galvin Benjamin_
If support holds you think we'll top at 236?
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Depending "if" and "where" the bounce "might" happen look for pressure to be applied around 231.5ish.
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flibbr PRO Benjamin_
good chart
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flibbr PRO Benjamin_
YEah I am also looking at this 213-219 level.. 232 will def be hard as shit on the upside .. as u say, "if" it bounces at that support level
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I'll be looking to push from 215/217 but watch for a possible snap break to 208. It's best to keep any orders sidelined until it's clear any trapped longs don't start to capitulate below 220 and drive this lower. After grinding out May the bear has awoken from his slumber. Stay nimble.
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flibbr PRO Benjamin_
Ahhhfirrmativee...
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Galvin Benjamin_
We bounced too soon, so not sure if 215 area will bounce now. We may just go sub 200 after this bounce.
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Which is why I wasn't selling below 220. I was counting on drawing this trendline close to 217/218 then buying, the market however decided it wanted to reverse nearer 220 at which point I bought short dated contracts in anticipation for some sideways up.
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Benjamin_ Benjamin_
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flibbr PRO Benjamin_
Good chart and I like the upside target
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Now for some more of the same sideways up sideways down. I have some dates for increased volatility I'll PM later with a chart.
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This is really clear and easy to understand for a newb like me, can you recommend any courses where I can learn this stuff?
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Hey, good calls as always. We're at a decisive point right now, I think we are going to test the 200 area at this point since it's another important psychological level and see how it behaves there. It could be a turning point once again, I'm expecting a pretty decent bounce and the continuation of ranging. What do you think?

Da wedge in da wedge
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