MidasMarni
Long

We have a clear shot to run up to 670-680

BITFINEX:BTCUSD   Bitcoin / Dollar
77 4 3
I see resistance at 670 to 680 in this run, but if it breaks through it will run up to 830.
WaveTrader-2015
2 years ago
I will be looking out for youre resistance levels .I think it could go bearish .but Im new to this .hope it goes well .
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MidasMarni WaveTrader-2015
2 years ago
Thanks, I am new to this as well. Just sharing what I see. I used to trade a few years ago but I am really rusty.
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WaveTrader-2015
2 years ago
whell I defenately should have listened to you yeasturday thats for shure , I started to listen to much to the bitcoin chat .and stoped to listenning to myself and payde a price for it .I supose its a live and learn .I defentately hoped you whent ahead with youre plan .because It was fabulos it was on target .thanks for for sharing that .Im glad you got a handle on it .sort of gives me hope I can learn more TA and get a better handlel on this .not Rusty at all if you ask me .cheers Antonio
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While it looked for a time like Bitcoin might make a run at $680, it turned out there was quite a bit of resistance around $635-$640. I have been watching some Point and Figure charts I created on Bitcoin price and there are several valid targets - both up and down. Upside target is $900. Downside targets are $360, $260 and $140. Not sure that some of the lower targets will get hit, but they are still valid until the Bitcoin price reaches $1,000.

At this point I am waiting for price to either hit $680 to buy or somewhere around $360. At this point, RSI-Stochastics have declined fairly rapidly while the price has stayed fairly flat. Looks like a descending triangle is forming, which I expect to resolve to the downside. Volume has been pretty weak.

If something changes that convinces me to change that strategy, I will try and post it.
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