I expect Bitcoin to retest the .786 fib around 410 (even 390 is possible) creating a false breakdown from the wedge before fully breaking out. Of course the other scenario is that we break 430 within the next week with little resistance. I expect it to first test 630-670 once it breaks out.
Based on the news (btc-e has/had issue's / ddos attacks other exchanges?) i don't think we would hit 500 soon. My guessing is first the market will dump - price will go down to 330/340 and then buy. But i'm waiting to break the trendline and then join the move.
What do you think?
Blue zone on the right is where the block reward is going to halve, its a wide area because its uncertain when excatly it is going to happen due too difficulty and hash rate fluctuations.
Bitcoin has been consolidating for a few weeks now, making the breakout explosive when it happens.
The BTC community keeps growing every day, building bullish pressure.
Just keep...
Details at chart. Target is last high.
Above 2884 cny we see pretty tight potential consolidation place.
Staying above 2884 cny for longer than few days is very bullish for me (but potential sideway with chops).
2800cny should establish as a new floor if trend is really bullish.
Bitcoin has been in a monthly uptrend for some time, but still hasn't reached the target.
Currently the weekly chart had given signs of a potential decline, but said decline is now failing to confirm the downside, giving way to a potential long trade.
I'll be looking to enter longs by the weekly close, aiming for a 58% to 100% upside, risking more or less 20% from...
Zooming in my last weekly chart to day-timeframe it is possible a triangle formation to complete the "b" wave. If we are into a bull trend since january then this correction should break down to continue a bullish rally thereafter. BUT if we were still into the bear market it would be very possible to see the price below 1500cny. Anyway in both cases it seems we...
On February 7 we started to break indecision which lasted from the end of January. Now its finally confirmed that Bitcoin price will rise, at least for some time from now. RSI is still low around 60 on higher timeframes above H4. Uptrend is confirmed by quick breaking resistance levels which are subsequently confirmed from the upper side and price climbs by this...
Looking for BTC to move down a bit into this mitigation block. Would also be a good move to run stops.
From here we could see a move to the Daily bearish OB at 430, which also more or less lines up with the longer term trendline in red.
I've trimmed some of my position at 408 avg. Also had a look at TTSI which peaked at 55%, this is dangerzone in my book if it is...
The daily's looking nasty here. $390 has been rejected on U.S. exchanges which has negated the possibility that enough momentum exists to push to and beyond $400. Looking to add on a break of 2520 cny1.05% as well as support denoted by the thick orange line.
Pseudo Analytical Indicators: New moon and Chinese New Years converge tomorrow, the 8th.
Assuming we break the Monthly Pivot around 2620 and we stay above it, we can expect significant upside movement into the 4h order blocks.
Ultimate target would be monthly R1 level around 2900s, with a long term triangle break-up.
Following that, we can expect a retrace into the top of the triangle area to retest that breakout, and then we can see if its gonna...
