MagicPoopCannon

Bitcoin Attempts To Print A Short-Term Bottom (BTC)

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
BTC appears to be holding the Aug 22nd, 2017 low. The MACD is also trying to turn bullish , here on the daily chart . If price continues to hold the 8/22/17 low, we could see a relief rally with the potential of sending BTC up near $5,000. For that to happen, price obviously needs to hold this potential short-term bottom. Additionally, the extremely resistive 50 EMA (in orange) is rapidly falling toward price. The 50 EMA is likely to continue providing resistance, stifling any significant rally attempts. A failure at the 50 EMA would be a great sell signal. A confirmation above the 50 would be a game changer.

I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! Au revoir.

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-JD-
Comment: BTC is running into resistance now, at the 200 EMA on the one hour timeframe.

Any updates? MPC...
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We have a similar dilemma whether this is short or long term bottom and it led us to the following study. We'd love your input on this:

+2 Reply
BarronTrump InvestingScope
@InvestingScope, I don't think those two are correlated in anyway.
+2 Reply
Where do you think we are?
+1 Reply
arborkite pkb6698
@pkb6698, you should go all in
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pkb6698 arborkite
@arborkite, Oh I was deceived. This poop is not that poop above...lol
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BTCUSD H4. Forecast for the next 4/8 weeks. Bears still own this space. Short sell close to 5K target is close to 3K later in December.
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Please, donit use Bitfinex for charting.
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