The bulls have had a good few weeks, but the long term downtrend appears to be stopping the price from moving any further, further validating my suspicions as indicated in my last idea (link provided). As the price continues to try to break out with several high-volume surges, it has continued to make lower highs and broken the immediate uptrend with lower lows...
This is not an actual trade, so I left the idea neutral so people wouldn't think I was advocating this. I just want to be able to look back and see if I was right. Right now we have a lot of people hoping and anticipating a possible long-term uptrend in bitcoin, seeing that we are near a potential break-out zone. However, there is another possibility here,...
Making a trend-following trade as per my last idea. Looks like it's starting to follow through as I'm typing this. $267 is the immediate support. Once that breaks, back to support from the symmetrical triangle that broke up. Stronger support is at $245, so this is a short term idea only.
Still currently in a long position since $260 and waiting for signs of a reversal. We could either fade out here or go parabolic into the $300s. Considering the news catalyst, I think we will probably go parabolic sooner rather than later and meet resistance around the same place as last time, where I will start looking for shorts. If the trend stays healthy...
Holding longs here for another breakout and possible another parabolic up to $320 ish. The consolidation triangle has now resolved decisively to the upside and we're meeting resistance at the old high, but it's probably only a matter of time. Strong support in the $240s and a good long prospect here, especially if we pull back before moving up. That said, the...
By breaking out of the purple triangle on volume, I think we have established a bullish trend that will take us back to the long-tern downtrend at least. After a weeks-long consolidation, the market has finally begun to correct from its oversold condition and decided on a direction for the next few weeks. This should start a bull run similar to the one in May ...
Right now, we are in a symmetrical triangle and we are going to have fake-out moves on the smaller time frames like we did just a few minutes ago that don't involve any real volume. Now we can see that consolidation is almost over and it's almost time to choose a trend. Since we made the peak at $315, we've had several patterns that might indicate a move, when...
It's hard to tell what's going on right now, but one thing this chart tells me is that we are still in consolidation. One thing that I think might be a good indicator is the triangle we are currently in. As you can see, there is a lot of support below us and the current trend is still apparently bullish, so the market apears to favor a bullish outcome at this...
I still say this one could go either way, but the market is starting to show a clear bullish preference based on the ascending triangle we appear to be in. A break above recent highs would create a good long opportunity and a break below recent lows would break the bullish trend and confirm bearish targets outlined on the chart. I'm marking this idea as "long"...
A small trade possibility. Market pretended to breakout here on very weak volume at strong resistance. and will probably retest the last higher low and may go lower.
We are very close to breaking the long-term trendline. We're either going to fail to make a new high and slowly churn downward again, or we're going start a long climb to bullish targets. Since we already have major baseline support below us, I'm leaning toward the latter If we start to see volume coming in here and the price moving steadily past that...
$240 is important daily resistance and the price appears to be forming an ascending triangle, getting ready to break upward. A clear break is at $243 or so on volume. If this happens, I'll ride the trend until it fails.
The Bter phenomenon was one of a series of failings in the bitcoin exchange market that could empower the bears in the future. The market is now back in the "Zone of Uncertainty" where we've spent the majority of our time since bottoming out in the $160 area. Within this area, it is very difficult to predict price action, although we have had a couple of good...
We can see a little consolidation here with price pressing down on $245 support. The declining volume tells me this could be the start of a slow pullback before the real event. We have strong support at the $230 level, so this may be a good place to buy the dip. Overall, still bullish, but don't expect it to move too quickly.
As we take a step back and look at the bigger picture, you'll notice we're right at baseline support at the bear trap before the big China bubble. I would advise being patient with this one because there are still a number of possible scenarios that could play out. I'm becoming slightly more bullish but still looking for a possible double bottom at $16x. No...
We seem to have established a floor for this support around $210 near the last area of consolidation before the big Coinbase pump. The market is now forming a massive descending triangle by making lower highs on very weak volume. This pattern will be validated if and when the price dips below intraday support at $220 again. The market had a similar, albeit...
We have what looks like a perfect inverse H&S forming, but the price looks weak on the right shoulder. Breaking $220 and invalidating this H&S is a very bearish signal, opening up to further downside targets, the first of which is at the recent low with even lower targets still possible. In the event that we break the neckline at $245, we can then consider...
We've put in a nice double bottom on the hourly chart with a clean break of the neckline and a retest of the low on lower volume. There has been a lot of selling over the last week, and there may be more to come, but this is a relatively safe entry for an interim bottom. I've outlined a few levels of resistance on the chart. It may take a little while to get...