BITFINEX:BTCUSD   Bitcoin / Dollar
1607 9 29
Using the 50Dma as a simple guide for trend, entry and exit signals.

We could be in the second iteration of an upward slopping trend that takes 2 or 3 months before breaking out to new highs sometime in November or December.
is it time to go short?
just a newbee
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@jpec2k, A daily close below 1k would confirm those thoughts. Right now the market is at an indecision on direction and it's not worth risking money until this gets resolved. You can see by the chart below if we break 1k and test 1st support at 990 bounce back to 1k and it gets rejected we will see the mid 900's or lower. If however we break above resistance "and make a new high" then pullback and hold above prior resistance either 940 or 930 we will see a 100% leg move to the 80's.

snapshot



At the moment unless you are already in a position best to sit this out as you could make arguments for either side.


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Charting like god
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Impressive. How come it just repeats the pattern?
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BTCMarket nahuel89p
@nahuel89p, Price has been repeating; Trend, Consolidation, Sell, Trend, Consolidation, Sell, from the very lows.
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nahuel89p BTCMarket
@BTCMarket, I see.
1) market conditons have changed though (fees and regulations in China). Isn't it a game changer?

2) Are you going short now?
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BTCMarket nahuel89p
@nahuel89p, A new chart will be forth coming when I see an appropriate setup.
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It all seems perfect, but I must believe there should be an exponential growth by the halving and worldwide adoption. Also the worldwide war on cash and economic problems should help bitcoin a bigger push up.
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WOW! your timing prediction is impressive ))
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