lamppole
Short

BTC Important area to be tested soon

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Looking more into the log graph:

I feel as if every sign is pointing towards a support test of $2600 range, which was found by looking at the previous crash from $1150 to $150. A bear flag has consolidated BTC to meet with a cross at MA 12 & MA 26. This is scary waters for a market that has been controlled by bears and will lead to a drop to the $2600 range. If BTC can't pull together we could easily see the next BTC support be $1100 which is likely. However, if the bulls can come together and push a long rally to MA 200 we could see $2600 remain as the strong support.

Overall, $2600 will be likely tested and will decide a steep crash (likely short-lived) or a rally which will last much longer.

Regardless, the future is exciting.
- The bright lamp


Personal opinions are only ideas and are never financial advice.
Comment: Also, it is important to note timeframe of the rectangle. Careful to watch mid-December outcome if everything is normal check Dec-Jan.
Comment:

Looks as if BTC is toeing the line earlier than expected. Watch closely to see what plays out. A fall off from $3600 will open our next range $2600-$3600.
Comment:

Bigger sale off developing
Comment: Sell**

Where's my coffee?
Comment: BTC still following earlier picture
Comment:

Still developing as expected.

$2600 range will be important to watch next. If the market doesn't turn around here we will very likely see BTC near $2000 range.
Comment:

So many buy orders at $3000 will probably spike BTC maybe up to $3400 but will ultimately fall to $2600 test after.
Many buy orders may quickly cancel causing a smaller push though.

Related Ideas

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out