altcoin_invest
Short

Bounce into the meridian of a longterm downtrend (#bitcoin)

BTCE:BTCUSD   Bitcoin / Dollar
85 2 1
While lot's of ppl             in here are full bullish I see just a perfect hit on our intact longterm downtrend channel. RSI inkl. selloff today give us the confirm that the chart will stay in this channel. The only question is how long. But out of question I quess is, that befor any move up we need to find our support level in this channel.

What also confirm this TA is my last one which is even showing a middle-term uptrend channel, also hit the meridian + RSI and Ichimoku cloud confirmed. You'll find it here:
Channel diving with XABCD pattern (bitcoin)


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altcoin_invest
2 years ago
....ups bad title. I mean: Hit the meridian of a long downtrend channel, for a crash
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Tin.Foil
2 years ago
Excellent chart! I especially like seeing the Ichimoku confirmation and the fact that we are above the cloud for now, with support at just the right place for a bounce. This matches the start date for some of my long-term charts for Jul-1st begin to the newest rally up to $4500+ by Jul-26th. I think after Jul-20th, we'll see potential somewhere between $4500-6500, but I've been sticking to a conservative bullish number of $4500. Next long-term rally won't happen for a year to a year and a half from the end of that rally with lots of day trading to be done in the interim.
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