Slot
Short

Targeting $185,- Area at Month's End

BITSTAMP:BTCUSD   Bitcoin / Dollar
189 3 4
The expected bull-run in my previous chart was unfortunately short-lived, forcing me back to bear (again..) on the 8th of December - the day of the giant bear flag. I'd to conclude that BTC requires more price consolidation before a new and longer bull period can start.

I'm expecting a 'throw-over' of the red trendline, followed by a quick recovery. In case the recovery lacks strength, I'd be retargeting to the $130 area (resistance before Q4 2013 rally), I consider this however to be a lower probability scenario.

The $180s target is set on two converging trendlines and also making a ~50% cut from the 8th December. Would make a nice final bottom from my perspective.

Related Ideas

Slot
2 years ago
On a logarithmic scale I can only come to the following conclusion, reflecting a bottom in March. But all big targets have been created on linear scale for almost a year now, so doubtful whether this has any value.
snapshot
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Summer
a year ago
Hello, how can you predict the BTC now?
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Slot Summer
a year ago
Hi Summer, I didn't see your message until now. I've made only two trades this year and I only publish charts when I feel highly certain about a direction, sometimes I post a chart in the chat which you can view via this webpage: https://www.whaleclub.co/posts/u/Slot . So far this is a year of consolidation, which also means no clear direction on where Bitcoin will go afterwards. Being patient and not trading is also an important part of trading, weird as it may sound. Thanks
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