sorry, i entered a small long first, then finished the drawing. just to share/visualize the insanity / emotion going on in bitcoin at this time.
Just for a refernce with the current bitcoin price action. Cheers.
What are you seeing today? Its a bubble? 2010: 2011: 2012~2013: 2014: Today: more consolidation could will come if ETF is not approved on 11th March 2017... some buying opportunity on dips which could still go to $700 to re-test but I could see a really vertical pump if it is approved... and crash like 2014
This chart gives me a warm and fuzzy feeling. I hope it gives you one too. In the black since $333! The general idea is that the value of bitcoin increases with adoption. So far the best indicator of that has been transaction volume. For a period of time we were way higher than the true value of bitcoin because of the Willy Bot scandal at Mt. Gox artificially...
A break above 1180 could signal the end of the secular bear market within the larger bull market of gold, as for the first time gold made a higher high price since it fell from a peak of 1900. Current price action is considerately overbought, but every dip was bought up given the fear and global macro. Next few days we might potentially see Dollar correcting by...
New version! I looked at all the original information from MtGox which is still available on TradingView and noticed that my last chart using Bitstamp prices and pivot dates wasn't aligned perfectly with the real pivot price data from MtGox (which shaped the price from 2010 until the melt down in 2014). BTC has still a high risk too fall even more. The pink Gann...
First reliable breakout signal off the downtrend after the long 7 months bear market for Litecoin. (Correction from 48 USD -> 3.3 USD. 14x decrease in price) We also have a double bottom made on 22.10 CNY (3.3 USD). This is an extremely good risk/reward place to be taking position on Litecoin with stops at 21.69 CNY.
All in the chart, self explanatory :) Strategy for the next few days: Sell the rally, buy the dip.
Well at least it's still pointing upwards! I have been thinking about how to display this data since we breached the 'current' longterm trend line (in indigo) back on the 11th of August 2014, and came up with this chart. Seems Bitcoin's USD price history is one of major trend line destruction. Good news for bulls I guess is in 5 out of the 6 times we crossed these...