As I've said before, we've been in descending wedge consolidation pattern for over a year now. Naturally, things are quite choppy and indecisive toward the end of this consolidation, but the important point is that all available info says we are close to a bullish breakout. Some reasons why are posted on the chart. First of all, the descending wedge, which we...
Possible double bottom forming. If it goes above $274, buy and don't look back.
The long-term trendline is in sight (thin blue line at the bottom), but we still haven't seen any major panic yet. I think this will happen when we reach the trendline. The dotted orange line is the bottom of the descending wedge we've been in since last year. Also of note is that today is a full moon, so this may be the day we see things reverse. The effect...
This is what I've been talking about for the last few weeks. We're about to see a three-drives pattern completed within this year-long wedge, and it just happens to be at the exact point where the bottom of the wedge meets up with the long-term trendline. I'm currently short until we break down out of this small blue descending triangle within the long-term...
Pretty self-explanatory. This is what I'm looking at. Scoop up coins cheap and then sit back. I expect this capitulation to happen pretty quickly.
I'm going to be watching the $305-325 area very closely over the next few days. A break under $300 could trigger a panic sell down to the $250s, where I expect to meet strong support at the long term uptrend, marked by the blue line at the bottom. Volume is down and price is up, so this tells me the current mini-bull trend isn't sustainable. What's more, we...
What will happen next? Will EUR stabilise and rise up from the Triple Bottom, or will the Big Level of 1.4000 get broken? And if it breaks below 1.4000... will it be a quick, nasty sell-off - just to reverse within next 24 hours? (Im not going to trade this with real money or just with a very small lot size)
This is really the most bearish I have been for bitcoin. I expect to break 380 soon, to test support at 340; some time in October, if not before then. Breaking the strong support at 450 is really the pivotal impetus for an accelerating downtrend. You can see complete rejection of the paypal news event as the price has steadily made a 100% retrace since then....