I got right the bounce of 10k though I did not put money in it. I was betting that it will bounce down from 10500 got it wrong.
It is moving to 9000 I think it will bounce up of it though how high and are we still going to 7500? I think we will get there though when?
I'm rather asking questions as with the next moves I feel blind.
Let's take a look at a bigger picture of BTC moves.
It appears that a long run up must end with a bit of a 'rest'.
Normally, it is roughly a 40% (of the size of the run up) reduction or so the past dictates. The past year's events of this nature were circled on the chart.
It appears that last year it was also around June.
Interestingly this price reduction would...
There is a strong support on 110 (orange line on the chart).
This is where we are expecting to start the climb from.
Will buy when it gets there, as I expect it will go through the down trend line (blue line on the chart) next.
Going to sell at 150.
Education and record of play.
Note: The chart is shown on the COINFLOOR:BTCGBP though BITSTAMP:BTCUSD are nearly twins of each other.
Why I think we are nearing the reversal:
* We are still in the down trend (the channel marked by the red lines).
* We are forming a head and shoulders pattern, which would indicate the incoming drop (short term though). The drop will bounce of the current...