Hi friends! I just want to give a quick technical argument for why I believe Bitcoin will most likely rally to the top of the downtrend channel, somewhere in the low 4000s. As you can see, each time during the life of this downtrend channel that Bitcoin has consistently traded above the 50 EMA (in orange,) price has rallied to the top of the downtrend channel (in blue.) Now, if you have been following my recent BTC comparison of the current market to the bottom in 2015, you know that I have been expecting a rally to the top of the channel, since that would continue the 2015 bottoming fractal. Knowing that, and seeing how BTC has rallied to the top of the channel after consistently trading above the 50 EMA, we can see that the probability of BTC rallying to the top of the channel is quite high. Furthermore, the current price action on the daily chart is in the form of a bull flag consolidation. So, unless price breaks down below the 50 EMA, the technical likelihood that we will reach the top of the channel is very high. From there, we will continue to monitor the progression of the 2015 bottoming fractal that I've discovered.
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***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
One tip if you want to make money in financial markets stop watching this shit from people that are wrong most of the time and learn how to trade/invest this is just amusement to see how wrong they where before for if you have nothing else to do.
especially this guy is really the shiettiest if you don't believe me look at his profile picture
Bulldragon
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@Mark_Vereijken,
lol long ago, i keep following TA analyst here at tradingview. even the most popular one.
and i keep losing money lol.
now i invest my time learning the basics and advance.
now i keep earning money every day. :D
earthling
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@Mark_Vereijken, well, based on your profile picture , you should zip it. hahaha
but seriously, publish something! . . . then trash talk...
Trash is your opinion, but thanks to tradingview, my information is easy to retrieve truthfully and thx for your advice about my jacked but I don't have to share my edge or have to prove anything to anyone.
ReallyMe
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It means nothing. The price movements do not obey the predictions. You could as well toss a coin and be right or wrong with your statement, "will most likely rally to the top of the downtrend channel". The probability is 50%
@ReallyMe, It means nothing but you are here ahahah
saif12
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@ReallyMe, Hi there, I guess, when someone share his thoughts and analysis, the least expected from the people like you is to show some respect. The guy is not asking you anything for his analysis, so if you do not like it, either you give a counter analysis, or do not bug other readers with your non sense comments
ReallyMe
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@saif12, Hi there, I guess, we are just exchanging opinions. Different views and comments, I hope you are able understand. Are you his legal counsel or why are you so upset?
especially this guy is really the shiettiest if you don't believe me look at his profile picture