At the very least, a bullish Bitcoin should make a successful breakout and also break the daily 200 moving average (red). Whether the breakout is sustained is another matter. Assuming it is, this is basically how I see the rally unfolding. My guess is, should we get that far, we will stall in the 11k to 12k zone which corresponds to February highs. I find it very unlikely we will go farther without a significant correction / period of consolidation. This is where I absolutely plan to take remaining profits. If we do consolidate at that level, we can stay up there for many months.
I am holding since 6k. Options for entry now include buying a dip, buying now or buying a breakout. We may retest the green zone, but I think it's unlikely.
Comment
⋅
Prime Minister of Malta speaks to United Nations General Assembly, says "cryptocurrencies the inevitable future of money" youtube.com/watch?v=0QzbiMmuO0k&t=13m29s
Comment
⋅
Comment
⋅
No Mt.Gox to stop us
Comment
⋅
Is this chart back on track? I suspect we might see a brief period of consolidation here. Hold on to your seats.
Comment
⋅
We broke the 200ma on Bitfinex on first pump. This is the first time we even touched it since March! My guess is this rally will continue over the next weeks
so you think we will go down before we punch through 6700/6800?
Crypto-Coin-Trader
⋅
If you look at the weekly or month chart, i think you could see that there are a huge chance to go down again.
In the long term, this would be better for the market!