BINANCE:BTSUSD Here is a potential good trade which has very good risk/reward ratio. On a daily time frame we'h got a big gap between Tenkan-Sen and Kijun-Sen forming a sea clamp(if you know a little about Ichimoku) that is eventually going to bounce upwards, could be in a matter of hours. The volume is increasing, look for the green arrow, The DMI and RSI is supporting upwards movement therefore a long trade. Entry above the green box about $0.30, Profit: between $0.45 - $0.58. Stop loss: $0.20.
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Update: Based on last night development Kinjun-Sen started going down which could mean a longer accumulation (consolidation) period and also the price it can go lower. If BTC is going to have a bull run again the price has high probability of going down as all other alts. The trend line is still intact for now. The bearish cloud is growing which mean bigger volatility that increases the chance of price movement, one way or another. On the other hand we should also go back by comparing with previous cycle and correction which took quite a long time, but let's not forget the reason for that: Bittrex delisted BitShares from its exchange which was a big deal in my opinion. Let's see what the market tell us next, will keep updating.
thats confidence. "matter of hours" its been 17hr. its a daily chart u sure not matter of days like 30?
pgarret
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@Bullion_Money, That's no longer valid(please look at my last update) and based on increased volume it could have been an opportunity as Verge was several days ago, but it didn't so we need to adapt to market condition and accept everything that the it throws on us. I would not go as far as 30 days unless BTC stays around 11k, I stated the reason above, but I would not say it cannot be. Will see how it goes.