Given last night's pullback, and Asia's refusal to save it, we have a penant. BTC's favorite formation. I like to draw a horizontal at the mid point of its apex, then redraw the trend running up the spine of it, as a continuation of trend. I am drawing a pessimistic penant, assuming we're at a dip. It should hold like this, pure misery for days. Interesting...
BTC survives the challenge from BCH, then rises, unchallenged. Leaves the operating trend, embarks on new trend, defined by slope of the crash. Today's price momentum is above-median, for trend, can assume a slower-growth rate and still remain within bounds of its existing trend. Right now, the only challenge to BTC's price is its resilience to crashes....
Right now we are in a newly formed penant. I like to judge the breakout based on the mid point horizontal through the apex of a penant, thus if it falls below it, it break above once it meets that horizontal. Rightnow that is around 11,406, so if it lift another $50 we are into break out territory. Either a 60+ or 80+ angle, depending on which trend it wants to...
BTC is a story of parallel channels, leading to big breakouts. It's the breakouts, upward, that keep up tuned in. But at these heights, parallels strike fear into everyone's hearts. Here are how the last set of parallel channels have played out, leading us to this point. Given that we are in yet another stand off between buyers and sellers, we can keep this...
At this altitude, we get ferocious swings, harder/faster than previous, so long as support holds
You can see the low RSI in BTC, established recently. I did a one month RSI, and BTC is ready to get big again. Interesting drop, I guess this weekend represents growth out of a lull.
If you can buy into BCH with your BTC during its spasms, you'll earn like 125% in a month. Keep your BTC around, keep BCH up on your screen, and see if you can't buy/sell a ton of the stuff during its brief departures from the shitter. Buy in with BTC, then sell it once it jumps quadratically
Sniper coin -- buy NXT with BTC to profit from these amazing gullies. I tried holding NXT, and never will hold it again for more than 10 minutes, BUT I plan to monitor this little piece of garbage, for its fits and spasms of pure brilliance. NOT INVESTMENT ADVICE, NOT A PRO TALKING HERE
BCH has not yet stolen thunder from our friend BTC.
NXT showing strong bull trend since the 20th. Today it pushed up 27%, and is consolidating currently. I foresee another on-trend jump soon, if we take the last 27% uptrend, we'll go ATH
Downward trend heading into a triangle point, right in the 9250s
I know that 8200 holds important psychological value for people. There are many fibs that like to top out at 8200. Clearly there is a linear trend at play since the last meaningful correction that continues in today's chart. As you can see, there is a linear floor where buyers will enter. This will provide a floor for the drop midday then we should get back on track?
it's been interesting to follow the highs in BTC, followed by its penants. What interests me is when the penant triangle converges, it selects a mid point. If after the penant forms, this mid point represents a point at near-term breakouts take place. This happened with both LTC and ETH today (both broke up violently, 5%+). It's hard to buy into these violent...
bearish rising wedge for LTC over 3 mo hot buying last 24 hrs tho, wondering about the day trade possibilities
disclaimer -- I am a novice trader, not offering investment advice. But for educational purposes -- Tonight expect a dramatic rise in BTC, after this obvious penant. People are resting before running up the price on BTC. Ready to pounce on this fire cracker once again?
OR a penance of penants People drive up the price then it sits, must break the current stalemate to break higher, unless big players have plans to drop it... highly likely, as the momentum is slowing at this high altitude
NEWBIE ANALYSIS -- parallel channel -> downward triangle --> time to break upward, watch the RSI