bwy
Long

Time to buy.. Monthly correction looks to be over

OKCOIN:BTCUSD3M   Bitcoin / Dollar Forward 3 Months
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2160 8
tIme to buy bitcoin (anywhere in $6Ks is good). Pretty sure the monthly correction is over. Look for >$30K
Comment: We're approaching a potential pullback area as the shorter term downtrend channel isn't broken just yet. Expect somewhat of a pullback just above $10K
Comment: Getting quite close to downtrend channel. I am going to bet it won't break just yet, but I'm very optimistic it will eventually.

Comment: Short term downtrend is over. Uptrend uptrend uptrend :)

Trade closed manually: Trendline breached :(
Wow I've never seen this Symbol on this exchange ... all the normal exchanges on a log scale have an entirely different trend ...
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outstanding work
+1 Reply
bwy koryu
@koryu, Thanks!
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@bwy, I find it interesting that we have the long term up channel on *log scale* and at the same time we have this medium term down channel on *linear*
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bwy koryu
@koryu, I've personally found that bitcoin tends to ignore linear channels over the years. I'd guess is this one will behave like the rest.
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Have always loved your charting, it been ages since I have seen one of your charts
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bwy NairA
@NairA, Thanks! it's been a while since I've seen such a great setup to post for others
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Nice Channel Bro
+1 Reply
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