Speiros
Long

Potential breakout with retracement - temporary eye on a long.

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Considering the support and resistance lines, I'm of the opinion that we are about to have a breakout upwards. Now, this isn't guaranteed, but looking at the lines of support and resistance from days gone by, we are at a breakout point anywhere between now and the next three days.

I am keeping my finger on the pulse for a potential upwards movement before plummetting down again.

This is based on my former analysis that over the whole year, we have one big massive head and shoulders , and if you look at that, a spike up is reasonable considering the other side of the shoulder.

After this rise and fall, I believe we will find what many call "the bottom". As someone pointed out though, there is really no bottom, and there is no zero.

What do you think?
Trade active: Just a clarification. Once again, this is in three days time approximately. It has been suggested that we are at the bottom already. I don't think so, but hey, I could be wrong again. Still, this is how it is.

We will follow the red triangle down to about 2800,

and then POP!!! Up we go to between 5-6k,

before another descent to find "the bottom", which is linked to in my other article. Let's see, and have fun trading.
Trade closed: target reached: Ner ner...I was right :D:D:D
Comment: The end of a triangle doesn't ALWAYS breakout in the direction people expect it to.

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