rv
Long

Bitcoin/USD (Daily).

rv  
BITSTAMP:BTCUSD   Bitcoin / Dollar
1704 30 14
1 year downtrend Channel is broken.
Initial target reached(attached), short term overbought, could correct. Long entry at support.
50 sma Support.
Holding the 255-275 level support, targets 310, 340 and 390.
Weekly RSI gaining strength.

Related Ideas

Branch22
2 years ago
Another interesting thing I've noticed is that unlike previous upwards corrections, this one has been far steadier which supports the theory that $157 was the bottom. I'm expecting retracement to no more than $274.
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rv Branch22
2 years ago
hi, yes, that is quite possible.
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ZarNegar PRO
2 years ago
But I Think

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ZarNegar PRO ZarNegar
2 years ago
Long & Short
+2 Reply
blackswan ZarNegar
2 years ago
i'm not surprised... and i won't even be surprised if it went to single digits... every bagholder believes it should be in 1000s or 10,000s and when you ask them based on what they have no clue, all you hear is because it's innovative blockchain and yet nothing unique about it, anyone can clone, improve upon it... i think stakes are insanely high for this immature cryptotech and now with Fed+IBM's assault on bitcoin, things are going to get rough..
-1 Reply
mgonzalez0521 blackswan
2 years ago
project gemini
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rv ZarNegar
2 years ago
hi ZN, nice to have your view. thanks
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When charting that much data, it's my understanding that log scale should be employed.
snapshot
... and while we're definitely working from a breakout, the duration I feel will be limited and a review of previous lows is likely.
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rv ninjabenja
2 years ago
hi, very possible indeed.
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jangseohee
2 years ago
snapshot
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jangseohee jangseohee
2 years ago
green zone of 325-330 insight? Fingers crossed
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rv jangseohee
2 years ago
nice1, thanks. is that log ?
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rv rv
2 years ago
nope
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jangseohee rv
2 years ago
yes, there is a little glitch somehow
after breaking out of that triangle, price engaged in little nice short term uptrend, but it broke down from support somehow
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jangseohee rv
2 years ago
snapshot
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rv jangseohee
2 years ago
cool, thanks. chart galore, love it :)

+1 Reply
jangseohee rv
2 years ago
you are welcome, i reckon simple chart triumphs
you have a simple yet powerful information, so i follow you :-)
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Iskandarglenn rv
2 years ago
3 rising valley's.
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jangseohee
2 years ago
can the 30mins potential divergence give it a bullish momentum? If it does, then there is a potentially bull flag, else it might broke down further
snapshot
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rv jangseohee
2 years ago
its possible, indeed.
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Let me refer you to Tim West's chart:
BTCUSD - BITCOIN - WEEKLY - ODD UPTREND


We need to see a high above 309 to confirm the move up.
367 is a strong resistance, but it can be breached and higher highs attained if it is, in the order of 400-440.
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rv IvanLabrie
2 years ago
super!, thanks Ivan. ( updated H4 chart. Elliot wave 5 and Wolfe Waves 5 ending( 1-4 Line ). under 50 sma. RSI working through. potential Correction in progress.) - some time, as well.
snapshot
+1 Reply
IvanLabrie TOP rv
2 years ago
Indeed, it does look correct...Definitely impulsive, but hard to say if it'll continue up after it corrects.
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rv IvanLabrie
2 years ago
(misplaced)5-5 same pos.
yes. good point. of course possibilities. viewing the Daily and weekly chart, there is support on the thesis of an upward continuation.
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IvanLabrie TOP rv
2 years ago
I'm skeptic about Elliott Wave in this low liquidity enviroment...Short term BTCUSD charts don't seem to convince me, since I consider that they don't properly reflect the sentiment of both the small retail operators and the better funded players.
I'd be wary of going lower than weekly to base decisions on.
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rv IvanLabrie
2 years ago
totally in agreement. it was an addition( i.e. bit more more detail, imo ) view. Personally, i like the Wolfe Wave on the end.
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IvanLabrie TOP rv
2 years ago
Indeed, it looks good and it has already worked.
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rv
2 years ago
Weekly Chart View , just to round it up, imho. Price has broken from primary downtrend channel, finding resistance against 20 sma, has cleared some long term horizontal supports, 50% last wave and Channel median line(red), (305-310 level), if and when broken, may open the door to higher levels, while Stochastics has cleared a horizontal resistance, and is gaining ground. Symmetric Projection lines(channels) are also shown.
snapshot
+1 Reply
JuanjoPowell rv
2 years ago
hola que programa usais para trading con bitcoin?
yo en acciones del mercado español el prorealtime
gracias
Reply
rv
2 years ago
(H4) abc potential close to completion. 1-4 Line respected.
snapshot
-1 Reply
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