MoonTrader
Long

The end (of the bear market) is nigh!

BITFINEX:BTCUSD   Bitcoin / Dollar
As I've said before, we've been in descending wedge consolidation pattern for over a year now. Naturally, things are quite choppy and indecisive toward the end of this consolidation, but the important point is that all available info says we are close to a bullish breakout.

Some reasons why are posted on the chart. First of all, the descending wedge , which we are very close to the end of, is bullish . The 3 divers pattern, which is not explicitly shown here, is also bullish . The moons appear to be bullish as well, with the bottoms of the highlighted fractals occurring during a full moon and a possible shortening of the time frame to go along with the tightening range of the descending wedge , as shown by the numbering of the moons.

With that said, I can't leave out the possibility of a slow decline toward the end of the wedge that drags out for several more weeks, but it appears that there is far more upside than downside in the market right now, especially with the USD showing signs of topping out. Although more downside is possible, this may be a good time to accumulate a partial long position in anticipation of the breakout and save the rest for reactionary trades.

I'm optimistic for the future, so I'll be looking for a place to long in the relatively near future.

BTC             Donations:
1QFuqhJGMbfubBzkSAm5KeYr3nRLA7HeHL

Thanks!
ouch...
Reply
UPDATE Jan 11, 2015:

It looks like we may be experiencing a reversal in the last fractal now. Don't over-trade this, but watch for potential long opportunities.
+2 Reply
vortexspaces MoonTrader
+1 !
Reply
Everybody waiting for this wedge to resolve, so we can go deeply down instead of going up! xD
+1 Reply
MoonTrader vortexspaces
That would be strange, considering the wedge is bullish.
+1 Reply
wow . that's good ideas ...
Reply
MoonTrader khoilevt
Thanks!
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out