I'm calling bottom.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
With the long-term support trendline below, I believe a break above $320 signifies the beginning of a long-term bull market, as per my recent ideas. I was expecting a drop to the mid-$200s area, but the market may just skip that, seeing as how it seemed to be such a common sentiment. Instead, we may be seeing a double bottom here in the $310 area. The market has made several slightly lower lows in the last few days, but still failed to breach $310.

This tells me the bears are exhausted and ready for hibernation. We've been following a year-long descending wedge with slightly declining volume , but this may be the turning point. The cyan line represents the trend from the top of the most recent pump to $450 and the dark blue line represents the long-term downtrend line, which we are very close to breaking with resolve.

Full disclosure, I'm long since $315,even though I say $320 is the key resistance, but I really believe this is a good time to go long in bitcoin             either way. It doesn't look likely that we'll get the panic sell I was expecting, but I think it's clear the bulls are gaining a lot of strength and are here to stay.
I'm not sure if this is the end of bear market but I'm pretty sure we will have a bull rally up to $400 in the next week or so. Then, we'll see.
Wow men why aren't you partying with your friends? ;p
Happy New Year!
+1 Reply
Lol I have no friends. Only the markets. Happy New Year to you, too!
+7 Reply
English (UK)
English (IN)
Bahasa Indonesia
Bahasa Melayu
Tiếng Việt
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out