Bounce from 12000 area expected Long

Bitcoin / DollarBitfinex

Description

⋅ Dec 30, 2017 5:04 AM

Confluence of supports in the 12000 area: fib 0.764, pattern of correction abc (not shown), sliding line and previous support bottom.

⋅ Dec 30, 2017 8:12 AM

Break up of sliding trendline means a correction is over:

⋅ Dec 31, 2017 8:16 AM

Need one more (green arrow) move up above 13500 to turn up trend

⋅ Dec 31, 2017 5:32 PM

Downtrend line broken. Longs at the retrace to 13300...12500 area.

⋅ Jan 1, 2018 8:24 PM

Retrace completed. Targeting to 14000+

⋅ Jan 2, 2018 6:16 PM

Resistance at 14000 broken. Targeting to 15000:

Comments

ctealdi

⋅ Dec 31, 2017 6:10 PM

What do you think is next? Thanks

Like2Move

⋅ Jan 1, 2018 4:15 PM

@ctealdi, I expect some retrace (as written in the update) and little by little a move up. Stops must be below 11600.

asdfghghj

⋅ Dec 30, 2017 6:16 PM

My friend, if this comes true you would be the only one saying this. And it would be great as lots of people shorted around here for 8000.

Like2Move

⋅ Dec 30, 2017 7:20 PM

@asdfghghj, still need to break up sliding line to turn up trend. Likely, above 13500.

asdfghghj

⋅ Dec 30, 2017 7:22 PM

@Like2Move, Yeah I understand that. If that happens still you will be the only one talking about this potential action. too much pessimism out there.

Like2Move

⋅ Dec 30, 2017 7:28 PM

@asdfghghj, thanks mate.

asdfghghj

⋅ Jan 1, 2018 8:27 PM

@Like2Move, It is going very well. :) Good job!

Like2Move

⋅ Jan 1, 2018 8:42 PM

@asdfghghj, thanks, I hope so. We'll see soon :)

cardan6006

⋅ Dec 30, 2017 2:35 PM

great chart! true