Waiting for the break

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
638 0 14
Hello Traders

Currently we are well above the (red) downtrend line that has ensnared bitcoin             ever since 2013 all time highs. This shows that the overall condition of the market is very bullish .

However we are currently in a pennant from the 370s drop, Here are some scenarios that we could see once it breaks

go sideways for a while then continue upwards to the 0.618 level as we have done many times before following a rally (see Follow the Fibs)

Move downwards finding support at the uptrend line from the August drop

Move downwards finding strong support at the long term uptrend line. A triple bottom here would be an excellent launchpad for a rally to new all time highs. If the price does drop to this level youll have to be quick. Everytime price touches this trendline it only stays there for a few hours before bouncing right back up.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out