Hey there fellow traders, here's my simplified view of BTC's upcoming movements. As you can see, BTC has broken the 274 day TEMA on the 4hr and formed a bull-flag above the line. There's also quite an obvious bullish divergence shown in the RSI leading me to believe BTC is about to make a move upward. As far as the long term goes, I don't know but for the moment at least, it looks as though BTC will show us some love and make a break in the right direction. Trade safely ;) -Scoot-
@samiswilf, How so? i made near 7% turnaround in two trades on that lol... i expect a drawback in price then another push
samiswilf
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@ScootTrader, no you didn't. The jump occurred before your prediction. Since your prediction, it has not rose 7%
Disaster_Chartist
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@samiswilf, near 7, in two trades.... check the prices bud, yea i did
samiswilf
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@ScootTrader, and what's your point? you think bitcoin is bullish now? You are incorrect.
Disaster_Chartist
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@samiswilf, so there's both bullish and bearish divergences to consider. the bullish is longer drawn and started back with about 27 on the RSI - this is key. The bearish is recent, only coming in since the spike AFTER i posted this, which indicates to me that we will see a drawback, then a push, a bullish one too. You might be right - i don't have a crystal ball or a time machine, but the overall probability lies with the course of action i have stated. We will see hopefully in the next few days
samiswilf
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@ScootTrader, I don't need a crystal ball and won't get into the details. We're going to drop significantly in the next 5, probably starting tonight or tomorrow night.