BTCE:BTCUSD   Bitcoin / Dollar
697 4 12
Keep holding btc after break out, see related idea.
Some supply should be in the 625-650 area, its were a bunch of early longs will break even. Anyway i think a lot of them already sold with the news of finex hack which caused panic.
After that 680-710 is possible.

Hashrated is rising as expected, mcaffee's mine has successfully launched.
Comment: lines adjusted. conservative long entry should be breaking the teal trendline.

snapshot
Comment: hashrate at new ath: 1,902,411,778 GH/s
Comment: sry for doublepost.
The downtime of houbi exchange has lead to some uncertainty, if everthing is fine and with the the hashrate rising, we can break out of the falling wedge.
Comment: Hashrate: 2,048,718,284 GH/s
Comment: soundtrack for btc rally: https://www.youtube.com/watch?v=-hlN2nel5HI
Comment: target1 hit
Comment: Moving averages have crossed bullish into rallymode.

Problem is, it could be that this is only because the market expected an etf approval but that is delayed for now (thx Stolfi).

Anyway we must be aware that it could form a rally from here, ma10 on daily should be support in this case as in previous rallys.

snapshot
Comment: both targets hit =)

time for a new chart... weekly is here
BTC
Comment: For the sake of completeness: adjusted channel and fib level target hit.
retrace or break out up with increased momentum from here is not clear yet
snapshot
Could it not just be re-testing your lower wedge line?
Reply
koryu PRO zippy1day
Yes could happen, that why it's safer to buy the breakout or the support with tight stop loss. But i am already in long position from 570, so I am just holding.
I think we have broken the main downtrend/correction already, so I guess this will either go sideways for reaccumulation or test the upper resistance.
Reply
Very good. I think we are in bullish mode, maybe till december +/-.
Reply
zippy1day Edgar.C.Aboboreira
Maybe I'm wrong but has it not broken out of the channel? https://www.tradingview.com/chart/Km0Tk0bz/
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