About memy rules:
#1 trolls/clones/ghost-accounts won't get serious responses
#2 if you are overly arrogant, no matter how good you are, i will humble you
#3 disagreeing with me is fine but come prepared. no knowledge? no logic? #1 or #2 will be applied
Bitcoin is now retesting the high from September 2017. (YELLOW dotted line)
Volume also roughly matches that of sept. 2017.
If retest fails it's back to 4200 or lower
If successful, 5500 - 6000$ area is next (PURPLE dotted lines)
Bitcoin finally broke the year long resistance. (Linear chart)
1H and 4H already show it as full candles, too early for daily thou ..
This resistance was broken only once October 15th (a month before the nasty fall from 6k) but was quite short lived (only 2Hours).
Bitcoin appears to give 2 nice small swing-trade options at the moment.
First there is the bigger purple downtrend channel ..
and in there is the smaller red uptrend channel
in at bottom out at top .. (unless you're shorting .. )
Everytime is see the chart on the mainsite, i keep seeing this huge (i mean it's HUGE) ascending triangle with a target of around $5300 ..
But it's probably nothing .. we all know it's just gonna go to zero or even worse..
Some points i have NOT yet seen mentioned as to why we might already have bottomed.
1) Every retrace after ATH is less violent than the previous one
2) None other than Leo Melamed from CME Group said “We will regulate, make bitcoin not wild, nor wilder. We’ll tame it into a regular type instrument of trade with rules.”
This being said, it's to be expected that...
With the 2018/2019 crash in full effect, I wouldn't be surprised to see it retest the 5000 area again (dotcom peak). If that fails, expect 4200 - 4500 in 2020/2021.
On shorter term it might rise a bit before further plummet, let's say about 6900 tops till may.
Looks to me as if Coke does the opposite of what it did 1998 to 2006.
Spiked (pun intended) during last 'recession' (2008)
The widening rising channel suggests drinking water this time.
Maybe Cuba-libre afterwards ?
Bitcoin is getting ready
Obvious descending wedge .. breakout to the upside, target is there also.
'Capitulation' already happened, volume spike
'Whale-wallets' are becoming active to fuel it
HIT THE LIKE BUTTON (even if you don't like it)
.. i need a chart for "Told you so" in the future (in order to be a good anal-ist, you need to be able to brag...
Looks crowded but it's as condensed as possible.
The coloured lines are the resistance and support of major trends.
The blue dotted lines are previous important highs and lows.
if we manage to get up to ~5500$ and stay up early February that would be best (as in most resistance broken at once) "the pink bubble" - VERY CROWDED AND INTERESTING AREA -...
Moving averages are 'averages of historic price points'.
They are used to filter out "noise"(price fluctuations) and simplify price movements.
A moving average of 3 on a daily chart means: you take the previous 3 day-prices, add them up and divide by 3.
Day 1 = 10$
Day 2 = 20$
Day 3 = 15$
total = 45$
divided by 3 = 15$...
Possible green Inverse Head and Shoulders.
Right shoulder still in the making, currently in a descending wedge near the 0.618 fibonacci (@ ~3650$ bitfinex ~3530$ others). Possible breakout to the upside - target would almost compete the H&S.
H&S target than around 5550$ bitfinex / 5430...
While minding my own business on Bitfinex on December 5th i noticed someone started buying 150BTC in 70 minute interval's ...
On December 7th i read:
The founder ... mining pool F2Pool Mao Shixing ... “shutdown price” for Antminer S9 ASIC machines mining BTC has now fallen to $3,260 ...
Bitfinex is about 100$ higher...
Bitcoin broke it's own years long support .. it confirmed the previous support as now being a resistance and fell more
nothing new here same as 2015
"YES BUT THIS TIME .... "
A certain "Fecal-Flinger" and his "Fecal-Kissers" are spreading FUD about hashrate dropping and how this will be the end of it, if you actually look...