ckim802
Long

A tale of 2 Bitcoins (update)

KRAKEN:XBTUSD   XBT / USD
One of the reasons I like the 15min view is that you can detect minor patterns that may be building to create a bigger one, before the bigger one actually forms. We're no longer in danger of falling through the point. In this case, I was able to determine that at the 15min view, an inverse H&S formation was about to form, and that the opposite H&S formation would be difficult, if not impossible to form. Both the blue channel and the red channel have been eliminated as possibilities. Only two remaining paths, I think, are the green dotted line and the yellow dotted line. The green keeps us in danger of falling out of the pink channel - but that won't be for another week. The yellow would be the most optimal choice, as it entrenches us firmly inside of the pink channel.
Comment:

4hr view
Comment: Bitcoin has settled on the yellow path.
Comment: That means we are firmly inside the pink upward channel, at least until 11200 (a more upward trajectory is possible at that juncture & the bottom of the pink channel or the 200 SMA, whichever is higher should provide enough support should a small dip take place). For now we can breathe a bit easier.
Comment: oh btw, the seeds of the flippening that were planted during the crash, are starting to bear fruit right now.
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