200 weekly MA - bottom, reversal
40 weekly MA - major dips during uptrend. good place to "buy the dip" or look for a stop-loss
20 weekly MA - minor dips and corrections during uptrend, follows the price tight
dotted curves - possible top of next bullruns
ascending triangles - market cycles. horizontal trendlines based on 1M/3M candle open/close
Fractals can be misleading, we see many of them from both bulls and bears. Trusting a fractal is always tricky, but this here sure looks like the best weekly BTC fractal in a while.
1. BTC breaks the downtrend line with a rally to the 50MA
2. Price reverses at the 50MA and goes down to retest the downtrend line
3. The downtrend line now acts as a support, we make...
Ladies and gentlemen, Satoshi has turned on the Fasten Seat Belt sign. If you haven’t already done so, please stow your carry-on luggage underneath the seat in front of you or in an overhead bin. Please take your seat and fasten your seat belt. And also make sure your seat back and folding trays are in their full upright position.
Bitcoin is currently moving inside a rising wedge pattern. RSI/Stoch overbought. "CMF" showing no real buying power. Many traders expect 7500 this week, but I see this as highly unlikely. Watch out for a break out of the wedge . If we break upward, my first target would be the 7500-7600 range. Breaking downward would drop us to the accumulation area around 6500,...
BITSTAMP:BTCUSD had a slow start this year and while everyone are looking at 15 min. charts, the big picture is getting clearer. With the current drop to low 7000s, Bitcoin reached another decision point and this will help a lot confirming a long-awaited bull trend.
We are currently sitting on an year-long support, inside a well formed symmetrical triangle....