MoonTrader
Long

Daily breakdown retest due

BITFINEX:BTCUSD   Bitcoin / Dollar
We've hit daily support at the breakout zone in a very oversold market. If we see more bear action, it most likely won't be until later. I've outlined important daily support and resistance levels on the chart, and the next stop appears to be a retest of $252 where the market broke to the downside with huge red candles on very little volume compared to the recent bull run.

Also of note is the lunar action. During the last full moon, we saw the market hit support at $255 and try to rally but fail. During the most recent new moon, the price was just breaking out to the upside, which is significant since the new moon is normally a bearish signal. We eventually got our retrace on low volume and now look to make another move to at least retest the breakdown level. When we get there, we should be at a full moon, so you can look for that as a timing indicator for a future move.

Also of note is that we are no longer in uncharted territory as we finally have some daily points of support and resistance to look at from the recent past.

BTC Donations:
1AAqUxpRiXSYhyFfSTjv6rDY5dQ8CD2KJE

Thanks!
rivet.popper
2 years ago
Thanks for this. See you on the moon.
Reply
ChartArt
2 years ago
I agree, BTC is going up next hours / day.
Reply
MoonTrader
2 years ago
UPDATE Jan. 30, 2015:

Price is moving as forecast, now breaking out on smaller time scale. Next stop is $250-$260.
+1 Reply
rivet.popper MoonTrader
2 years ago
Thanks for your work.
Reply
MoonTrader
2 years ago
Update Feb. 3, 2015: Price failed at $245 resistance, which was outlined on other ideas, but not on this one. Expecting selling to resume.
+1 Reply
Ramon
2 years ago
> During the most recent new moon, the price was just breaking out to the upside, which is significant since the new moon is normally a bearish signal.

I think you have a problem with your cause and effect system; the notion that the moon affects prices is just baseless. Why on Earth would you think the phase of the moon in any way relates to prices in a market?
Reply
MoonTrader Ramon
2 years ago
You don't have to listen to my ideas. I'm not going to try to convince you. It's just my system.
Reply
Ramon MoonTrader
2 years ago
Obviously, that's not the point; it's clearly superstition, and I'm genuinely curious how you can possibly actually think this?
Reply
MoonTrader Ramon
2 years ago
But you're not open to the idea that it might actually work, so I'm not going to try to convince you.
Reply
Ramon MoonTrader
2 years ago
Truth doesn't require being open, if something is real then the causal mechanism can be explained. That you won't even attempt to try says all I need to know about you.
Reply
MoonTrader Ramon
2 years ago
Sorry, I'm just not looking for an argument. You've already said all I need to know about you by basically saying you wouldn't believe me no matter what I say.
Reply
MoonTrader Ramon
2 years ago
If you won't believe me no matter what I say, then what's the point in telling you?
Reply
Ramon MoonTrader
2 years ago
The point is to make you think. When you explain something, you understand it better, when you find you can't explain it, you'll start to question why in the hell you're doing it.
Reply
MoonTrader Ramon
2 years ago
You are such a pompous ass. You endeavor to make me think and yet you refuse to do so yourself. Why in the hell would I waste my time talking to someone who already thinks he knows it all? Fuck off.
Reply
Ramon MoonTrader
2 years ago
It's because I do actually think, that I don't fall for superstition like moon phases affecting the markets.
Reply
MoonTrader Ramon
2 years ago
You don't think. You presume to know. Thinking would actually require questioning one's own beliefs. But regardless, I think you're missing the point that I don't care what you think.
Reply
MoonTrader Ramon
2 years ago
Also, I have about 100x as many followers as you. So, yeah... fuck off.
Reply
Ramon MoonTrader
2 years ago
Followers aren't money, but if followers are you goal, you keep banging out those superstitions.
Reply
MoonTrader Ramon
2 years ago
Righto, good chap!
Reply
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