Technician
Long

Bitcoin: Buy Signal!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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105
Looks like btc is heading for another jump. Today's rejection was perfectly at the rising trend line in addition to failing to hold below horizontal support at 3800 key and forming a bullish hammer candle.

The btc trend remains bullish as long as the above support levels are holding. If we break we might get more to the downside. For now the upside is favored for targets at the recent high at 4480 followed by 5000 area (1.618 fibonacci extension )


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Comments

Wow this was a really excellent one tech, 5000 $ reached !
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The forecast is looking good approaching 5000$ mark.
+1 Reply
Thanks for sharing this idea with us. I tend to disagree. I think it is time to short Bitcoin. It has been nothing but media frenzy and I think it looks perfect now for a short:
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I dont trade bitcoin but is interesting to see your setups!
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Thanks for your TA. Can you share where you started your fib extension?
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Technician titaniumdavid
@titaniumdavid, from the latest high to the latest low(hammer low)
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@Technician, I meant the larger one with the 1.618 @ 5023.24
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Wow! First ever BTC long! Welcome to the club, Technician
+3 Reply
@kitnik, :D
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in wave 5 it seems
+6 Reply
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