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Tadej
Dec 13, 2017 5:48 AM

For the 2nd time BTC was rejected at 17,5k USD 

BITFINEX:BTCUSD240
Bitcoin / DollarBitfinex

Description

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Ascending Triangle forming

Comment

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Again testing support at 15680$ which seems to hold for now. Let's see where it goes now.

Comment

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Still moving inside ascending triangle and testing it as a support.

Comment

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Again testing resistance at 17400ish. If momentum holds we may break up.

Trade active

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Broke resistance and tested it right after that (visible on lower timeframes). After that the volume came and we took off.

Comment

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BTC is testing the support (previous resistance) at 15680$. Seems like we lost that initial momentum.

Comment

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Touched first target. Next one seems to be 23,5k.

Comment

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Hitting support around 18650$, which seems to be holding for now (we got a bounce there). Looking to close my position if it gets violated.

Trade closed: stop reached

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Trend AnalysisChart PatternsBTCBTCUSD
Comments
Tadej
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Again testing support at 15680$ which seems to hold for now. Let's see where it goes now.
KairiChan
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my previous analysis 2 days ago told me the same things here. Combination of Bolinger bands being clear, Ascending Triangle, rsi with room to move and having broken resistance at 16500. finding support at 1650 now. I predicted the BTC will coast whilst volume moves to ALTS. Alts will correct soon and BTC looks to take back the dominance as the market shifts. I still think support will hold for BTC and FUD or FOMO you will suffer. Set a stop at 14500 and run a FIB for your buys.

I am holding my portfolio of BTC
Tadej
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@KairiChan, Good observations, thanks for constructive comment. Waiting for break up/down for trend confirmation before making a trade. 14500 seems like a good stop loss for me as well.
BrandonJolin
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It’ll break soon
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