About meI'm a Bitcoin day trader. You can join me on 796 by using the link below and get up to 50x leverage on your bitcoin for playing futures.
If you are new to bitcoin and want to know how to get started you can visit http://bitcoin.com to learn more .
Could this finally be the bottom?
It has been a terrible year for Bitcoin. Bears have killed a lot of hopes and dreams. But we seem to have a lot of divergence between price and popularity. Bitcoin usage is at an all time high while the price is being driven in to the dirt.
All long term time frames have hidden bullish divergence building that has not been...
It's starting to resemble a diamond bottom reversal pattern. Bears have beaten down and suppressed price to a point where bulls are not currently interested for fear of whipsaw. This will continue until bears exhaust themselves and allow the indicators to reset in favor of the bulls.
Good chance to go long on the breakout for a 70-75% retrace to the upside. ...
An FX trader (I'm sorry that I forgot your name) told me about the Gann square tool he got added to TradingView. Suggested I check it out.
This is an overlay without modifications to my free hand mess. Not sure how to free float it to align with existing lines. It seems there is some kind of snap grid preventing it.
Comments are welcome
This is my idea for a 0.618 pull back from a bear market into a rally when the breakout happens.
Green line is most probable with white line being a consolidation drift before next legs up.
I plotted conservative targets from the base trend line and not the 0.236.
I believe that Bitcoin is just getting started and that we are only now leaving the "early adopter" phase and moving into the "institutional investor/money" phase.
I've only been charting a couple of weeks so it may not be accurate. I put up an AB=CD YTD. Any better chartists are free to comment and correct my mistakes.
Confidence has been assured in favor of a Bitcoin bull market.
Break out pricing $408-$412 on 796.
Update: Broken down out of symmetrical triangle. Double bottom test of new trend. Position still long.
Should be about 3-4 days of sideways action followed by a kumo twist breakout to the upside on our new trend.
I would normally wait for confirmation of the breakout to the upside but a small long here could also be beneficial on the right side of the divergence.
Breakout pricing is $396-$405.
All you need is 3 touches for a trend. Bears are still in denial. Wait for the breakout to the upside before getting onboard.
There are a couple people using 20x leverage to drive the price into the ground. Pretty soon they will start losing money if this goes against them.
Daily and 4 hour back on trend is confirmation for going long.
Chart says more up here. Overly supressed market ready for rebound. Small pullback in the next 24 hours is capable of making this fail here. If that happens more down and then later retest for new highs.