BTCUSD - Touchback to Touchback

Hello my fellow Bitcoinistas!

I modified my weekly chart slightly and moved the baby blue trend-line connection points from Touchback to Touchback. Still a perfect fit! If this decline ends at the trend-line like it did the last time we broke out we should see some significant movement from here. I'm not going into the 20/40 cross etc. as I have written about all of this several times before. If you want my latest thoughts and updates just click the follow button and make sure your notifications are turned on for those you follow. Also, if you like these charts and my take on the market then please hit the thumbs up button so others might get a chance to see them too.

Good luck everybody and fasten your seatbelts!

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Another item to note. Have you noticed how things are accelerating? How quickly we came off the bottom? How quickly we broke out and then turned around for a touchback? Last time it took many weeks to make this much progress on the chart. Especially after the breakout. This time just a few weeks. The reason? Well, I'm thinking it has to do with time. If we really are to hit the higher prices everyone is dreaming of by the end of this year then we need to get busy. The pace must pick up or we won't get the chance to climb to new all time highs and still respect the charts. Trends, Fibs, Oscillators, etc. We still have to hit all the marks, we just have to do it at a much faster pace than before. Maybe somebody has a schedule as well as an agenda? Just a thought.....

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I keep looking at the line. We could still drop to $7,350ish? It's a good fit to and I probably shouldn't jump gun. I'm not selling regardless if we hit $7,600, $7,500, $7,400, etc. so it doesn't matter me exactly where the line settle so long as it is in this general vicinity. But.... I know other maybe trying to trade every little move so I don't want to mislead anybody.

Full Disclosure: I'm a long hodler and I'm not day trading every little move. It's the big moves I'm interested in. Good luck!

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Hello again. I just got back to my charts. If this is the low for the day then the final touch was at $7,427. That is so very close to what I've been looking for I will be extremely happy if we go no lower. I would be ecstatic if we close red today and get a green reversal candlestick tomorrow with volume. Also if we dip on the open a few bucks but finish the day with a strong green reversal candle that would work too. Good luck!

There are several to pick from. thepatternsite.com/CandleVisual.html

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I have to admit I'm a greedy bastard. I bought my final and last 0.1 BTC when it bounce off the trend-line. If it goes higher great, if it dips back down fine. I don't care. I just had to put some money where my mouth has been for my own credibility. From here on out, however, I'm probably done buying. I've already exceeded my predetermined position amount by 10%. No big deal, but I must show some discipline as well. Not it's time for me to just sit back like as before and watch my investment grow......

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"Now it's time"

I hate typo's but I make the ALL the time. Sorry.

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them lol

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A good sign for the bounce. We need to put more time, however, between the touch back and current pricing. The next few days should tell us the truth.