I just picked up some long @.0265. After my 3+BTC win yesterday, IM FEELING BULLISH AGAIN!
See chart for reference.
I was watching the 30m, drawing triangles and what not, but nothing significant seemed to happen whenever the end of each triangle was reached. So i am thinking this consolidation is going to last a while, which is why im back on the 4H charts, and here we can paint a bigger picture with some guesing and elliot waves.
China taking a leg down? it may according to this triangle. tune in later to see the result. Have a nice day.
BitCoin on its way to the moon. Buy each consolidation and do not listen to dump-talkers who want your cheap coin to go long themselves. HARD LONG until further notice. Target: $6000 USD.
Log scale clarifies a lot. Previous dead cat bounce worked and the cup and handle this time. See what happens.
www.zerohedge.com More evidence of China having a currency crisis that has yet to be reported in the main stream news outlets. This surge is a Black Swan event. US buyers have taken notice and volume is increasing on the BTCUSD side (circled). But, nowhere close to the volume seen at the launch of the current November rally (blue arrow). In my last...
The uptrend holding the price up at this level has been broken through and the price is going up on the last test of support turned to res on the 0.236 fib line, soon to be rejected and squeezed down through cloud support, and once broken through IMO its a short bumpy ride to ~3500 (2.618 fib support)
Eth just recently broke the downtrend line from the run up to ~0.034 and is being rejected down off of that to retest uptrend supports, which may not be enough to send it to the ether, but if any of you have looked at a BTC/CNY chart lately, BTC will be biting the dust pretty hard here soon with a retrace IMO to ~3500 CNY/BTC (chart coming later) and if anybody...
The break out of 3000 was pretty prominent and it is fairly reasonable that those entered market at 3000 will liquidate their position at 200% growth, or square 1/2 of their positions to take risks off the table and go into free ride trading. I will hold it though.
This is just a quick chart i made. I think the stars are aligning for a dump either tommorow. However, bitcoin could just say fuck it and break out of the top of the triangle instead.
Theres gonna be a squeeze soon. Im thinking it will be shorters. Fundamentals seem strong strong for bulls. It also seems everytime price has been compressed the last two weeks, bulls have won. Why would it be different this time?
We will go down more before continuation. Thus short. But I am shorterm trader keep in mind. GLT
We go back to confirm the support a bit, why? because we need a good cup and handle or inverse head and shoulders depending on time it takes...
This may be a variation on c&h leading to a new support building level In that case, looking for new yearly high within a few days. Dropping below the handle at 3682 probably means lower to test near 61.8% retracement around 3300-3400.
All details at chart. Simple and clear, just trade.