rv
Long

Bitcoin/USD (Daily).

rv  
BITSTAMP:BTCUSD   Bitcoin / Dollar
1723 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.
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
hi, yes, that is quite possible.
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But I Think

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ZarNegar ZarNegar
Long & Short
+2 Reply
blackswan ZarNegar
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
project gemini
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rv ZarNegar
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
hi, very possible indeed.
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jangseohee jangseohee
green zone of 325-330 insight? Fingers crossed
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rv jangseohee
nice1, thanks. is that log ?
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rv rv
nope
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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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rv jangseohee
cool, thanks. chart galore, love it :)

+1 Reply
you are welcome, i reckon simple chart triumphs
you have a simple yet powerful information, so i follow you :-)
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3 rising valley's.
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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
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
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
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
(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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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
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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Indeed, it looks good and it has already worked.
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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
hola que programa usais para trading con bitcoin?
yo en acciones del mercado español el prorealtime
gracias
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(H4) abc potential close to completion. 1-4 Line respected.
snapshot
-1 Reply
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