4xForecaster
Long

$BTCUSD - TG-1 Hit Dead-On | 4xQuad.com | #bitcoin #USD #Gold

BITSTAMP:BTCUSD   Bitcoin / Dollar
496 7 5
$BTCUSD - TG-1 Hit Dead-On | 4xQuad.com | #bitcoin #USD #Gold

See chart:
snapshot



4xQ'ers,

As of this hour, our primary target has been hit following an unusually tall candle (when compared to all recent ones).

A secondary target remains pending at a level which we defined as imposing a significant overhead resistance. As we move into the week-end, this loftier target level has the potential to act as a reversal point - only time will tell.

Have a great weekend.

Cheers!


David Alcindor | 4xQuad.com

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David Alcindor, CMT Affiliate #227974
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frankunderwood
2 years ago
May I ask, on what kind of analysis these targets are based upon?
Reply
bitstamp double topped at 818, clearly near your TG-1 resistance. Nice.
Reply
time for some new bearish targets ;-)
Reply
Tagada ronfkingswanson
2 years ago
Give it a little bit more time, Gox has to test the upper limit of its downwards channel at $920 or so first.. That could make for Bitstamp closing in on its TG-2, which is about the limit of its own channel as well at about $870. Unless they break through, which i doubt, this area will be a shorter's paradise :)
Reply
johnrfraser Tagada
2 years ago
Hi, may I ask, what is the Gox downwards channel you mention here? How do you visualise this, is it a cloud of some sort? Could you please clarify what you mean by this? Many thanks.
Reply
Tagada johnrfraser
2 years ago
Hi John, i hope this simple chart will make it clearer:
https://www.tradingview.com/e/IEUWqCfH/
Reply
Hello @frankunderwood - The methodology used is proprietary, so I can't really reveal how we determine trend confirmation, reversal and targets. Some of our clients have made specific requests on charts, and for the charts they do not mind us sharing with the public, we produce the chart and post it in which ever venue the client made a request. Our "schoolyard" remains our facebook page at www.4xQuad.com, where we make our announcements in private messages or with the public, and we archive our results here: http://bit.ly/16JMnH8, which is a bit.ly page under our namesake, 4xQuad, LLC. David Alcindor | 4xQuad.com
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