As we approach the end of this long term bear wedge, what was previously predicted as another leg down has turned out to be sideways motion which is now hugging the resistance line,
For me this confirms a break in pattern of the previous 2/3 legs down. The news on the Gox saga and china bans seems to be drying up and positive news taking its place.
As we...
I meant to post this the other day but never got round but expected sideways motion to last until the weekend.
If we look at the past two pumps they all follow similar 'paths. When you map arcs onto these it forms a kind of "Speed bump" (sorry couldn't think of a better name!)
The initial pump followed by a dump which has created a support level then a sideways...
I similar to many people, feel we are close to a pinch point where the true value of bitcoin is shown to be going up or down.
This is my analysis of how we have got to today and where we're headed.. Short term down another leg but long term up.
I discovered these 'Head & Shoulders Bottom' patterns while trying to find some direction for the LTC/BTC Trade. The trouble with looking for these patterns from a fiat perspective is fiat's action in the market is a lot like the tide, in that it lifts & drops all ships in the ocean. This effect on an asset that has been experiencing exponential growth in it's...
We finally had a small pullback from 544, but not nearly enough retracement or consolidation to support a continuation of this trend much further. The perfect periodic divisions of these rallies is causing so much anticipation that the bulls keep tripping over each other to be first in line, causing an acceleration of the rally attempts.
When a pattern becomes...
Here is a great example of The BoT in action in a shorting situation. BTCE had just rallied back into an OTE short zone on the higher time frame charts (and was quickly rejected) so a pullback was to be expected. The BoT came alive when prices moved from 440 down into the 407 area and then rebounded back to 430 area. Looking for an ab=cd price pattern...
