RhythmTrader
Long

Forget The Bears! Clear Long Play On Bitcoin (BTC)

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
This is the time to start thinking about your long-term core positions.

Watching the break and retest of the accumulation area around $3,840. A break of this trend line , that has shown support for almost a month now, syncs up with our near-term 50% area of the last move down. Don't get stuck watching only low-time-frame charts charts. Always start with high time frames when you draw your support and resistance levels. I use a weekly and daily and work my way down to as low as a 30 minute.

The higher the time frame of a level, the stronger it tends to hold.

I'd prefer to see it play out to the long side so close to the low.


Added quick thought....

2015 Bottom: Jan 15, 2015

2016 Halving: July 10, 2016

Days: 542

2018 Bottom: Dec 7, 2018?

2020 Halving: May 23, 2020?

Days: 534

Less than 10 days apart.

Something to think about!
Dec 12
Comment: More of my analysis and thoughts on the crypto space:

https://twitter.com/crypto_dizrupt
Dec 12
Comment:
Trader. I do my best to educate through analyzing charts, trade ideas, fundamentals. Shoot me a DM, let's talk everything #Cryptocurrency and #Blockchain
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out