BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
As much as I wanted to see my short position work out, it looks like you can't fight the trend.

Logarithmic + Pitchfork , nice channel eluding to $5500+ on the next peak.
Also shows that we're at the bottom for now.

RSI also shows we recently hit a low point, which coincides with the beginning/transition of every other bubble we've seen thus far.

EMA / MA crossover is big this time around, which leads me to believe that the cross back will be a major move upward. I'm assuming this will have to be triggered by some level of news that we can't yet fathom yet. Possibly something like integration in restaurant POS systems or something at that level.

Comments

this idea is correct. I agree we hit the bottom. It was at $339 on 11.4.2014. Volume shows that the transition to uptrend is happening.
But my calculations doesn't show the next peak that high. I suggest something between $2600 - $2900
+1 Reply
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