timwest
Long

Bitcoin BTCUSD Bitstamp - Monthly Downtrend Time expired

BITSTAMP:BTCUSD   Bitcoin / Dollar
5639 43 61
Time has expired for Bitcoin to decline and the price "failed" to drop to the suggested targets. It looks as if Bitcoin has upside to rally back to the previous mode in the next 9 months.

Look at the previous forecasts on Bitcoin to see how these trade setups have done and how they worked. Lately the methodology has been a little choppy after working so perfectly for so long.

436 upside potential (~ +80%)
196 stop loss (~ -20%)
4:1 reward/risk ratio

Tim
Trade closed: target reached: Anything over $436 was a bonus - $502 was the high.
Comment: Thanks for re-viewing this long term idea from a year ago. The monthly time frame is a solid time frame from which to view the trend of Bitcoin, even though Bitstamp is not the dominant market for Bitcoin.

It's great to see low risk, high return trades pan out using the logical construct of "Time At Mode".

Tim November 1, 2016
Comment:
BTCUSD Monthly Upside Target 1032 before February


Here's my update as of Nov 17, 2016 8:15AM EST
Subscribe to my indicator package KEY HIDDEN LEVELS $20/mo or a discount for a year and join in the trading room KEY HIDDEN LEVELS here at TradingView.com
This is insanely accurate
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Hi Tim, the Bitcoin trader world is more than ready for a new chart from you! What does the end of the year have in store for BTC? What do you think about 2017?

THANKS!
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timwest PRO NicolasMendoza
@NicolasMendoza, Thanks for the invite to re-view! If you get a chance to follow @IvanLabrie, he does a great job of using Time@Mode to project BTC in all of its forms. I will be spending some time updating this chart, especially in light of the latest advance post-election and during the gold market pullback/correction. 11/17/2016 7:25AM EST
+1 Reply
Tim, what's your current take on bitcoin? If I read your chart correctly we are in the middle of potential 9 month rally.
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timwest PRO ryopphdi
@ryopphdi, Sorry I missed your question from 10 months ago. If you follow @IvanLabrie, he does a fine job of using Time@Mode to project bitcoin. I'll be assembling a chart myself here today (most likely). Cheers. 11/17/2016 7:26AM EST
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@timwest, No worries. Better late than never ;)
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After a nice pullback from the high at 500, Bitcoin is setting up for another buy here. Using the 4 hour time frame, it has an entry signal here today at the close 11/16/2015 (Iong)
+7 Reply
noto1235 timwest
just bought :) thanks where do u see the top from here ? keep us updated please
Reply
Long has turned into a triangle. This is awfully common.
I think next move is down. (Posted daily)
+1 Reply
BitcoinGuru IvanLabrie
I still think sideways and up by friday
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