Bitcoin-Calling the Bottom

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Keep it Simple. Bottom: 6700-6000 range.
I've seen countless "complex" TA for the past month surrounding bitcoin , everything from around "crystal ball" predictions or using imperfect ratios with harmonic patterns to predict a fall down to the 3-4k levels. The most powerful tool in a trader's arsenal is always the most simple one: trend lines .

Most traders have failed to plot the simple upwards sloping trend line , which traces all the way back to September. As we can see, bitcoin has respected the support line throughout the correction. I don't see why the probability of bitcoin respecting this trend line would fall now. I will be setting up buy orders in this range to cost average for a long term position. Remember, bull runs just like crashes always start when least expected.

The Bitcoin Consensus Conference is coming up May 14th, which lines up with the bottom and a potential run up in May. Last year's iconic bull run in May, also started in the run-up to this highly anticipated conference.
Goes without saying, this is not financial advise. Please do your own research.
Comment: Price is still respecting our simple support trend line.

ETH/USD has also almost bottomed out. This support line traces all the way back to May 2017.
Price is struggling to break up frrom the downtrend line. Also the EMA 200 is also right above the downtrend line right now. Nonetheless, I am fairly certain that our uptrend support line will hold and we can expect prices to break up before May

Gradually breaking up the downtrend line.
dig it! agreed.
Zargham xxxSALTHEART
@xxxSALTHEART, thanks, appreciate it!
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out