Pre-bubble indicators.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
1644 31 20
Main explanation is on the chart.

Another thing to note is that OKCoin quarterly futures barely retrace in relation to the spot price and the smaller time frame futures . I interpret this is bullish as the longer term investors (quarterly) see a bright future and are reluctant to sell.

Bullish news includes the 21 Inc. investment and obviously the upcoming BitLicense and Winklevoss ETF .

Comments and criticisms are welcome!
Hi Harry. Now after this dump, it seems we dropped out of your wedge but have re-entered today. Are you still feeling the love here?
harryBitcoin rivet.popper
Hi rivet.popper.

Yeah, this has pushed my support line down a bit which in turn has pushed the point of the candle, the possible 'launch date', to the 24th of April. This, however, means that the two triangles now come to a point in the same place unlike my previous chart. So, even though the date is further away, there is more certainty to it.

My only worries are the high Williams % Ratio SMA (light green line) and the MACD crossing over (both on the daily charts). However, a similar thing happened in the triangle which I compare this one to at the beginning of the 2013 bubble. There is definitely room for a little bit more down though. In fact it's happening as I write this.

I'm still pro-bubble though.

+1 Reply
rivet.popper harryBitcoin
Thanks very much. Do you mind making an active chart for this that I can fill in as we go forward in April?
harryBitcoin rivet.popper
Of course. How do I do that though? Am quite new to TradingView.
rivet.popper harryBitcoin
I wish I knew. Didn't you make one in your previous chart though? I commented on it a few days ago.
rivet.popper harryBitcoin
Just one with a play button would be great.
harryBitcoin rivet.popper
Think to do that I need to publish another chart and I'd rather not do that unless there's a big update to avoid getting spammy. Sorry.

Will upload a new one soon when there is something to report though.
+1 Reply
rivet.popper harryBitcoin
Harry, we just got torn a new one today. Does this invalidate your chart now? I'm not sure if we're still within the support you've depicted here or not. In any case we are certainly testing it.
harryBitcoin rivet.popper
Yeah, this (the chart with the triangle, not the one for this thread) chart is definitely invalidated now. I don't really have the time to analyse it at the moment so I will be staying out of any positions until the 3D MACD has bottomed out which could be a while.

However, quick look shows that, on a linear chart, we came up against the long term support line and obviously failed to break through.

Looking at my 'Pre-bubble indicators' chart, it doesn't look good either; the MACD histogram will close lower unless the price corrects this week so it's not looking good.

On another note, it's only 3 days till the BitLicence comment period is over.
+1 Reply
rivet.popper harryBitcoin
"...only 3 days till the BitLicence comment period is over."

Does the ETF get approved right after that (assuming the comments are positive)?
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