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!
Thanks for this. See you on the moon.
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I agree, BTC is going up next hours / day.
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UPDATE Jan. 30, 2015:

Price is moving as forecast, now breaking out on smaller time scale. Next stop is $250-$260.
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rivet.popper MoonTrader
Thanks for your work.
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Update Feb. 3, 2015: Price failed at $245 resistance, which was outlined on other ideas, but not on this one. Expecting selling to resume.
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> 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?
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You don't have to listen to my ideas. I'm not going to try to convince you. It's just my system.
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Ramon MoonTrader
Obviously, that's not the point; it's clearly superstition, and I'm genuinely curious how you can possibly actually think this?
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But you're not open to the idea that it might actually work, so I'm not going to try to convince you.
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Ramon MoonTrader
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.
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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.
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If you won't believe me no matter what I say, then what's the point in telling you?
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Ramon MoonTrader
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.
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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.
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Ramon MoonTrader
It's because I do actually think, that I don't fall for superstition like moon phases affecting the markets.
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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.
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Also, I have about 100x as many followers as you. So, yeah... fuck off.
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Ramon MoonTrader
Followers aren't money, but if followers are you goal, you keep banging out those superstitions.
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Righto, good chap!
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