BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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BTC broke our side-wards analysis very well, and has since had a small pop to the upside, touching on the moving averages. Now price has touched the moving averages, I am expecting some small expected corrective downside which could lead us back to the side-wards support line before a break up move. When price does this, it does NOT mean that price is weak at all, this is perfectly acceptable technical behaviour and would be normal of a healthy and prosperous up move.

Price needs to correct slightly as is. It does not necessarily need to go all to the side-wards support, but it's a possibility that it does do this so it's one we need to keep a eye on. It is easy to get an entry here because we can simply just wait for the correction to be finished. The stop loss zone is easy, under the side-wards support is the obvious candidate because anywhere else is lower is illogical for it to be considered a buy anymore.

Also bear in mind, when price does come out of the slump here, price will then hit the consolidation resistance, where there will be once again another correction to the downside before the upside fully prevails. We're in upside territory, but patience is still needed to get this trade perfectly right.

Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts!

I will continue to update this analysis in realtime if this idea receives sufficient attention :-)
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BTCUSD H4 Update. Checkout the idea details and updates for the complete picture!
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Hi, long time no see. I want to get advice from many chartists.
This is my personal opinion, concluding summary of the things below.
Futures(CME, CBOE) Expiration Date, 50days Pattern, Comparison with 2014
Where do you think is the most likely position for BTC to rebound?

Reply
Where are you man?
+1 Reply
@aaronvo, probably got rekt
+5 Reply
TomProTrader Crypto_crabster
@Crypto_crabster, Probably busy* :-)
+1 Reply
Crypto_crabster TomProTrader
@TomProTrader, I'm just kidding, bro :D
+2 Reply
TomProTrader Crypto_crabster
@Crypto_crabster, Lmao I did laugh to be honest.
Reply
sovitt TomProTrader
@TomProTrader, we miss you sir
+1 Reply
Both Coin Cap and Bitcoin arrived at bottom of triangular convergence.
Now, Can I expect that the drop is over?
What do you think about this? I want to hear your opinion.

1) Coin Market Cap

2) Bitcoin

+1 Reply
@pkb6698, thanks for sharing.
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