Technician
Short

BTC: Dead-Cat Bounce!

BITSTAMP:BTCUSD   Bitcoin / Dollar
2561 32 20
I am not so excited about the rebound, as we have seen this pattern before.
Key over-head resistance is the main falling trend line for now, which will probably push for another deeper leg lower. A break above that resistance may signal more recovery, although i still see no savior for the cat :D

I remain bearish on BTC looking for new lows. No hard feelings

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Yes, same opinion from here ;)
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Next dead cat bounce will be at 260-300, probably it will take a slow 1 month long grind to get there.
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Have you considered the longterm logarithmic uptrend?
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Your chart is broken and missing dates from March 31-April 6th. The rally already broke the line you have drawn but the graph is broken.... therefore this TA is invalid and if the chart was proper, it would show a upside breakout of the triangle.
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I am not sure whats broken here!!!
snapshot
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http://i.imgur.com/UV9P8Lw.jpg
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lol
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Here is the true chart. Clear upside breakout, and now straddling the line:
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http://snag.gy/5cSRu.jpg
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Muwa Cbutters
Use log scales, especially for instruments like bitcoin.
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Technician is not using log scales on his chart... I was pointing out a critical difference based on faulty charting code on tradingview.
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Yeah I understand, but how do you know for sure its tradingview's fault chart!?
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You're not using the ATH
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After "The One and Only Forecast", you made three more forecasts? lol
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Technician TOP Toutatis_4179
lol. really good point :D
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This song and dance is getting old...
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It's easy to make fun of something new and out of the ordinary.
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Don't see any "making fun" here
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I agree, the waves on this rise were all corrective. It was not an impulsive movement. It also ended in an upward diagonal, which is an extremely bearish sign
snapshot
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RimmerDall Nathanael
Ah thank you for this! I've been trying to come up with an Elliot wave count for this (just learning) and yours is not one I'd have been capable of spotting!
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thanks for this chart Ronald
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Agreed! Excellent chart there........u think it could go to the 202 level?
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Technician TOP djflowmaster
Yeah, i believe there still a lot of downside. IMHO
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BoGaVaNTe Technician
What is your take on the recent price developments? Is your analysis invalidated?
Thank you very much.
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Another Dead-Cat Bounce?
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Probably yes :) . . its a normal phenomena that markets go up and down,
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Aqua-Life Technician
luckily for us to make money off of ! At least try to lol
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Jameve Technician
This cat looks very much alive to me. The bearish triangle you drew is broken.
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Yeah as they say, cats have seven lives :D
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Cool, 2 weeks days ago I did an analysis very similar to BTCBRL:
BTCBRL : Resistance Trend Lines
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You need to put an actual date behind when you think bitcoin will trade under $50 so us bitcoiners can look back and say you were wrong ;)
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