Bitcoin/USD (Daily).

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
1760 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.
(H4) abc potential close to completion. 1-4 Line respected.
-1 Reply
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.
+1 Reply
hola que programa usais para trading con bitcoin?
yo en acciones del mercado español el prorealtime
Let me refer you to Tim West's chart:

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.
rv IvanLabrie
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.
+1 Reply
Indeed, it does look correct...Definitely impulsive, but hard to say if it'll continue up after it corrects.
rv IvanLabrie
(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.
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.
rv IvanLabrie
totally in agreement. it was an addition( i.e. bit more more detail, imo ) view. Personally, i like the Wolfe Wave on the end.
Indeed, it looks good and it has already worked.
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