Jocoin
Long

Bitcoin free fly incoming!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Do you remember this 2d chart?!
Finally, we have got 2d candle closed at 12500, If you don't know what this means then let me tell you:
BITCOIN TOOK OVER THE 2ND BLUE RESISTANCE LINE

During the past weeks i was focused on 2 things: there is no daily close below 10k to resume the uptrend and this stood intact as well as to get 2d candle close above 12k level and we GOT IT!... because you can see clearly this blue resistance line respected 3 times touch 2d candle close before bitcoin breach it and close 2d candle above it. (check the old 2d chart below)

What to expect:
We just broke out of broadening wedge with daily close. a retest of 12/12500 area is very possible now with 2-3 days sideways move will be enough to gather strength needed to shoot upside

Please understand that sharing my views doesn't stand as buy/sell signals. I am long term holder in a day trader style and i still have my ( 25x ) long position open since 3500 and added on the way up at 4900 and 7900

If sharing my views help, kindly let me know and don’t hesitate to show that. Leave a follow, give thumb up, your opinions are welcomed in comments as well.

Previous ideas:
Watch out! We got the WEDGE Breakout!


Bullish Descending Broadening Wedge In play!


4HR hidden bull DIV completed! Bear Trap triggered below 10k


Again! Get In The Train. 19k Next Month


Original idea:
Get in the train and ignore your fear, ATH in 1-2 month
Comment: 12250 touched once the idea published!!!
Comment: Exactly as predicted to retest 12000/12500 area and 12000 tested. Expect reversal and sideways move next days before shooting upside
Trade active: Price went a little lower 11600 we got retest of the blue resistance line that btc took over the past days but we Will get 4hr and daily close above 12k level. We dont mind some wicks and it doesn't change anything as we mentioned in comments any thing below 11700/11500 with 4hr close will invalidate the idea. I consider it was another bear trap!!
Trade active: As we said in last update, if the price go below 11500 with 4 hr candle close this will invalidate my view but We have got 4 hr candle close above 11600 twice and its very clear btc is reversing right now , We have got hidden bullish divergence on 4 hr which is very clear:
Trade active: Not only 4 hr bullish hidden divergence but also 1 hr classic bullish divergence as well as macd crossover, have a look:
Comment:
Comment: 1hr classic bull div + 4hr hidden bull div ( CONFIRMED )



When i published this idea ( Bitcoin free fly incoming! ) before we drop from 13k level, I did explain its still incoming and retrace to 12k level is very possible and we did retraced below it as well as i said we should wait 2-3 sideway moves before shooting upside
So the idea still in process and so early to judge when dealing with 2d time frame even if we got closed below 11500 in lower timeframes but we did reverse very nice after we spotted divergences just in time before it complete and we did share with you!

I really wonder some people who asking for updates privately or in comments without even pressing like to the idea!!!

Another thing i would like to point out, look to the trend line:
Comment: Sorry mistake:
Trade active: Bitcoin bull run fractals on daily - Targeting Golden Ratio! ( click to read details )
Comment: 1hr classic bull div + 4hr hidden bull div + 1d hidden bull div ( Completed )


Comment: Correction is almost over - no need to panic!
Although we got lower price but in my opinion it doesn't invalidate anything yet, divergences on lower time frames most of times are complex but its a clear sign that reversal is coming.
So if we look to the daily, we can adjust the trendline and today candle close will tell us if its still valid. The pattern will turn to be a large pennant more than a triangle and both of them most of times are bullish when formed in uptrend.

The fractals on daily rsi&macd are almost completed so yea today should be the day to make it or break it. daily close below 10300 going to be very bad.
Trade active: Reversal: Resistance Turned Support - ( click to read details )
Trade active: Trap: BTC below $10,000 for the last time! ( click to read details )
Why I bought bitcoins at 3000? Explanation of current bullrun in this idea below

Reply
Need updates, my man. What are we to do with this ongoing pull back?
Reply
Jocoin michael46
@michael46, Read the update!
Reply
@Jocoin, forgot about the like, done now :)
Reply
Any updates? It seems to be closing below 11,500 on many smaller time frames. Anything invalidated in your theory yet?
+2 Reply
Jocoin AlexMills
@AlexMills, Read the update!
Reply
Nice analysis! Keep going!
+1 Reply
Jocoin Yuriy_Bishko
@Yuriy_Bishko, Thank you, appreciate it
Reply
plz check my share ideas on treading view
Reply
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