BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
AUGUST 15Th we Published an Idea wherein

we were focused on the $4800 support for a

possible bullish turnover

The BULLS However seem to be knocking right about now

as a break of the bearish trendline will let them right back

in the game, otherwise we wait for the $4800 discount as

initially forecasted
Oct 11
Comment: FAILED TO BREAK, Pullback now underway, Watch $4800 bottom for bullish discount.
After last small pump a brilliant pattern (starting from 18 October) that much visible on 15MIN timeframe.
Should it be possible?
frupreneur davvolg
@davvolg, can you show up what you looking at? all i see down in the 15M is a bullish Flag holding grounds
davvolg frupreneur
davvolg davvolg
@davvolg, to rove I see that also:
frupreneur davvolg
@davvolg, Nice catch mate. Note however that such patterns determine compression and predetermines a stronger break IN EITHER DIRECTIONS. That blends well into the bigger picture, either we break that and the trendline above and go bullish or break down and head for a better discount before the big bulls kick in.
In case of the H&S pattern. volume is very important for the pattern. Bitfinex also shows some H&S like pattern but it has been invalidated by volume of each head. I guess.
Just as your chart, BTC is standing at the milestone and it needs to determine its direction to go.
We need to watch out the fake break up & down.
4K sounds quite resonable to me but who knows. XD.
Good luck.
frupreneur divan1004
@divan1004,insightful thoughts. I agree, fake breaks are typical with bitcoin and at this particular decisive moment i wont be surprised seeing some show up.
frupreneur divan1004
@divan1004, Anything below $4000 i consider to very good discount for longer term buys as a drop from $20k to $4k is a 1/5 drop. Thats literally buying low and selling high
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