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Ellionator
Sep 18, 2018 5:43 PM

Accumulation Slow Uptick Long

Bitcoin / DollarBitfinex

Description

We can see that since the low of ~5800 we have had a very slight uptrend, which was also apparant in the 2013 charts after a bottom was found.
Observing the slow upward accumulation. We will see if it holds and be prepared with shorts/longs. Again, this is not a trade, it is just trend analysis.

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Comment

It looks like the upward accumulation is holding nicely and following a similar trajectory we saw in the 2015 trend reversal. For this reason I am still bullish long term. But there are some good swing trades in this range! 6400 was a good long entry, and I have a few riding up, expecting rejection at 6800. 6800 could be a good place for a short position, assuming we get rejecte there. This pump and dump range should continue for some time if history repeats itself.

Comment

The accumulation range is now invalidated. I am now short from 5730.

Comment

Looks like we got the timing on the reversal right. Took a fun ride down to 3100 for profit after shorting from 5730. I started longing again back into the 4's
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