lowstrife

Green Channel vs Red Flag for the Daily Outlook

BITSTAMP:BTCUSD   Bitcoin / Dollar
944 5 13
Will the 51MA and bearish trendline provide enough resistance to keep us below the 61.8% retracement to re-test the bullish trend? Or will the Green untested channel provide enough strength to carry onward to the next target.

If $660 (683) breaks, expect $900's. If $550 (540) breaks, expect $400's.
I agree.
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Great find. I'm thinking this is bullish because each of the times the price drops or rises hard onto this moving average we get a big rebound up or down. I've marked it on a copy of your chart in blue, (https://www.tradingview.com/x/pOvMkRma/) where in 2 instances the price just kind of launches through the MA line & picked up some major energy on the opposite side of it. It looks to me like price might be on track to pull this movement again.
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That kind of market movement is needed to punch through such a strong MA like that. I hope we get one again!
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So you saying, if it doesn't go up it will most certainly go down, unless we go sideways a bit longer? ;-)
+1 Reply
960 looks very sexy..
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