after a long weekend and some days of absence I'm back with a new idea that I want to share with you.
After the prices went down last night, I can now see a Descending Triangle in BITSTAMP:BTCUSD. I have marked this in light green. At the moment the candles are bouncing close to the support line of around 3400 $. RSI and MACD are raising again. As always in the last time volume is too low at the moment. Perhaps bulls are regenerating power and waiting for a jump up. Will we see a breakout at the end of the triangle? Could be that we reach 3580€ with a pump up. This will take place at the end of the week - latest.
What do you think? Is it going up or down next? Please support me with a thumb up and a comment. I would appreciate this :) I will try to update this post frequently.
See you guys, trade on, Muckrah
By the way: this is just an idea and no trading advice. So trade on your own risk - like I do :)
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Meanwhile, to be more exact I should say "over night" the candles broke down the triangle. I still think we will see a push back into it and then we are back on track.
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As I was analyzing the one hour BTCUSD Chart I detected this Falling Wedge (painted for you in blue). Could be, that we will see a massive pump in the next few hours... I will check this for you and will update this post frequently :)
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That looks very good. A few more steps up and we are back on track inside my green triangle :)
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A brief update: - The chart is rolling on. - Hours are moving forward. - Still inside the triangle. - We need more volume to pump it up. - No need for a new screenshot. I keep you up tp date.
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Still on the edge of the triangle, finding a bottom at around 3405 $. Looking not good at the moment. We don't need a dump, we need a pump up! And here you can help up...
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Nice pump a two hours ago :) The blue Falling Wedge fulfilled its job as assumed.
We are still inside my light green triangle and are waiting for next pump or maybe a breakout...
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Still inside the light green triangle. So we are still on track, waiting for the breakout...
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At the moment the chart is going down again a little bit. But we are still inside the triangle and that is all that counts for now :) Fingers crossed that we don't leave this triangle and go up a little bit more...
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A few hours ago we left my light green triangle, but now we are back with a little pump. Now I am excited what will happen next. Pump or dump, that's the question. Don't forget its weekend and usually the volumes are falling... So, come on bulls, where are you now..?