garyreza

WTF is happening - Part 3

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
I talked almost about everything in long term in 1D and 3D ideas I just published.

In terms of short term targets: As you see BB20 has been acting as a resistance for a while, pushing the price down, making it breaking MA50 and EMA200. We can see the DMI and Stochastic divergence, though its not a big one. I expect the price to try to break BB20, they will probably meet at ~$7000-$7100, if the price breaks it, we can hope for breaking the next targets (Red Dotted lines on the chart and MA50 and EMA200), but if BB20 act as a strong resistance again, there is a chance that it will push the price down, breaking the upper bond of the major support area that we have. As I said in previous idea, going into the major support area wont be good for short term at least, even may be for long term.

In a nutshell: Wait for price to break BB20 (don't forget that every breakout needs confirmation)


Remember that "The stock market is a device for transferring money from the impatient to the patient."
Garyreza (@Analytca)
Comment: I have published a 16 page comprehensive report on BTC price prediction as a PDF file, I think there is no way to share that here. You can probably find it by googling it or searching in twitter! If you know a way that I can share a file here, let me know
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