giorgior
Long

Bitstamp Long Term BTC

BITSTAMP:BTCUSD   Bitcoin / Dollar
627 5 4
Watching PSAR on this chart makes me think that the pattern is also too perfect, a little more nervous, but stronger until now. The last downpressure this year looks later, shorter and heavier. This get the next days more unsure but the price should not fall under 425$..
Happy ending with 3 weeks bullish retracement:
- With bottom over 400$ pretty nice targets may be first 690$ and then 800$ for the last week of April.
- With overbear under 380$ it may slide down the plank where hopefully will continue the long retracement driving us over 800$.

Have fun!
johnrfraser
2 years ago
Hi there, what do you mean it looks too perfect? Fixed in some way?
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giorgior johnrfraser
2 years ago
.
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giorgior
2 years ago
I see an impressively similar pattern on SAR maybe stretchable in somewhere, but a very nice line that I strongly consider for my longterm strategy. Anyway as you can see, according to the chart I should go bull now, but I'm suggesting bear. I think we're still going down but this chart is telling me that after next big down we may see more bulltrend for a month, that for me means a longterm entrypoint against the claimed end of the bitcoin we can appreciate for every paranoid fall people realised during the last 4 months.
Not a system, just a pattern.
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DrewR giorgior
2 years ago
Your chart tells me to be bearish. Not sure what is telling you to go long (RSI?); especially consider PSAR is hovering so high above the price (Generally, the larger the gap the more certain of direction).
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giorgior DrewR
2 years ago
Yes, like I wrote in my first comment, this chart is telling me to be bearish right now and is also suggesting a very heavy down fall.
Taging the chart with LONG I was trying to suggest to don't panic about this claimed big bear, because according with the actual PSAR signal these are volatile downtrend days, but according with the pattern buy time is coming for longterm investments.
The market has called for cash a lot of times and a lot of optimistic people has nicely followed the optimistic cycles, like this next. This is what I see in this pattern, other indicators are wastes of older analysis, sorry.

Thank you for comments and corrections
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