BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Watcha thinking bout?

#swimmingpools

by award winning rapper Kendrick Lamar.

C wad I did there?

Subverting expectations is the subject of the day.

Here we have BTC in what sure does look a lot like a wedge of some general sort. Sorry to get tooo tech w/ you ther.

So the jig is likely up soon for this chapter of the story?...

We're in a bear market,
we've been in a bear market,
we're likely going to stay in a bear market until something triggers a reversal of trend.

Hmmmmmm, higher hiiiiggggghhhhhs, hhhhhmmmmmmm, hiiiiigggghhhher hiiiiiiighs, hmmmmmmm, breath with me people, if we believe we conceive. Send all your Bitcoin donations to the wallet below!!!

But obviously no amount of mere meditation or positive thinkig is going to cause this trend to reverse. If we do start to see higher highs on the daily and weekly (then monthly) time frames than the Dow theorists will agree that we've seen a reversal of trend. But Bitcoin has (as many traditional stocks have) most often seen a moment of capitulation trigger the reversal.

So...

Our days of sideways continuation are almost certainly coming to an end. We will see a dramatic movement one way or another. We've seen diminishing volume on the daily. RSI is not at a particularly pivotal moment but the 12 and 26 day moving averages are coming to a possible crux. We've seen bounces and price drops in the past so we wait for confirmation.

It could be an interesting holiday season and any smart trader has a plan for any price movement so I'll see you all in 2019 with stockings so stuffed that you'll be burying ledgers in shoe boxes in the backyard.

#isittooearlyforeggnog?

Satori, aka Peyote
Oct 02
Comment:

This would be a bullish sign: finding support above $6325, considering the trend line of resistance, but until we see higher highs...

#notbullishdoesntmeanbearish
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out