Just a wild guess. I think we can expect to retrace a little when the height of the triangle has been recovered.
This is valid obviously only if we actually broke up (which is not certain as I write this).
We are testing the resistance properly on bitstamp.
We are already above the average resistance. If we can move above the yellow line this would mean a clear break up.
Finally, the moment I have been waiting for in 10 months...
Bitcoin delivered futures in November is serious business. Bakkt means main street adoption.
The fundamentals are there for a bull market...
So as usual they released bearish 'news' and a mysterious dump happened, just as we were testing the resistance.
These kind of market manipulations have happened all over 2018. This time they even used fake news, that is to show how irrelevant news actually are.
The market goes where their TA tell them where it needs to go in order to make maximum profit at...
Here I'm doing what I was so successful at in my first prediction months ago:
Draw support/resistance lines and see where they intersect.
This is an attempt at predicting when the breakout will happen.
I have determined in my previous TAs the jump in price we can expect once BTCUSDSHORTS get squeezed.
It is taking a long time to happen, maybe it is waiting for...
I have been a long time holder of NANO/Raiblocks.
The problem this crypto had was a lots of whales (sell walls) and manipulators (on bitgrail) and weak hands (because of it's free distribution method). The bitgrail fiasco came at the worst possible moment, during a BTC bear market, when the currency hadn't consolidated in price.
Also the reddit forum is not...
I'm using the vertical length of previous short runs to determine when the current one would end, using the intersection of vertical lines with the short trendline.
When this ends BTCUSD will jump. Probably breaking the bear cycle.
Have a look at BTCUSDSHORTS, you'll see that the shorts are piling up in a way that is reminiscent of 12/04/2018.
I have circled in yellow the impact of the different shorts 'squeezes' we had in the past.
I write this on the 09/08/2018, and from the look of BTCUSDSHORTS I think we can have BTC go up as much as...
I think we can all agree that the title is deserved (unlike most of the time when people post these). We have had bullish news but the price kept falling (unusual), as if it needed to accomplish its bear cycle. Maybe to go back up?
We are at the crossroad now. If it falls under the last support Bitcoin will have no choice but to enter a new leg of serious decline....
We know that there are too many shorts at the moment. It is a matter of time before the bears capitulate.
When? This is an attempt at answering this question. We know we are at a strong support right now, so let's draw some support and resistance lines and see where they cross, to figure out when a breakout can happen.