It's pretty obvious that BTC loves reaching All Time HIghs and the odds are usually in it's favor to break records. However, timing these breakouts (and breakdowns) is a different story.
BTC has been on a Bullish upward trend since a breakout above $8,000 on the 15th of November. Since this breakout occurred, an upward trajectory from $7,079.00 to $8,250 has created a strong supportive trend line. An upwards resistance line is allowing a consolidation which should lead to a BTC breakout on the 23rd of November. BTC $10,000.00?
Happy Thanksgiving everybody. Onwards and Upwards.
Update: We definitely saw a breakout to the downside. Let's hope to build more support around 8k and then we got higher!
mix122
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fork and charts break down to 7-6-5k ?
webmonkey
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If I had money on this move (which I don't...I;m staying out until it decides what to do), I'd say more indicators are pointing towards a downward trend now than an upward one. We have the futures launching in dec which might be enough to keep this bull running and bitcoin seems to just keep riding up, so who knows. Logic says a retrace is due, but lots of people don't buy bitcoin with logic!
jzerboni
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All second language to me, but F - it I’m going to let it ride! Just put my son’s college tuition down on this breakout call!!! Onward and Upward Bitinfo12!!!!!