olivernash

BTC: Strongest sign yet the fall may be ending - can it hold?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Breaking this most recent consolidation pattern may be the strongest sign yet the fall is slowing to a stop, but can it hold?

Watching to see if the trend change forms any further - just slightly different - consolidation patterns.

Unless the bears show exhaustion on the current MACD cycle of the 5 minute chart. I may jump from the current rise and wait for the next...
Comment: Bears exhausted in MACD cycle on five minute chart makes this an even stronger rising signal.
Comment: I updated my idea on what might happen next in a new post:
BTC: Almost everything is 'just another one of those'
Is this possible?
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olivernash imkeshav
@imkeshav, Absolutely possible. Good call. It would indicate1 the formulation of consolidation triangle with a steeper angle, with support line at (A), (C), and (E), and resistance line from the highest peak to (B), (D), and beyond. If you look at the MACD histogram on the 1 day chart, you can see the last bull cycle had little strength; they would have to stage quite a comeback to completely break this fall at this stage, but bulls may be slowing the fall in the medium term such that the journey from to where-ever (D) is takes the power out of the fall.
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still strong at this point?
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olivernash userbeauty
@userbeauty, Not enough for me to sleep on it. I'm out now overnight and will see if any patterns are clear by morning.
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userbeauty olivernash
@olivernash, good luck! Keep us posted?
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