BTC has consolidated nicely the past couple days and is now filling a triangle formation and on the cusp of breaking out. Lets keep an eye on volume. If we can build support on the middle black trendline there's a good chance the bull resumes. Otherwise watch for a correction down to 1730 USD
Mega Cup and Handle formation could be indicating a big move to at least 2250 USD (with a few bumps in the road along the way). Plenty of FOMO news articles surfacing in the mainstream. Segwit as well. Previous cup and handle projections extended further than the forecasted magnitude, however the target zone ended up as future support once the correction started....
BITSTAMP:BTCUSD appears to be in a long term consolidation, accumulation period for past 2 years. Based on previous models this is what I expect in the coming months, maybe sooner. During this period we will see distribution and mass scaling of BTC to buyers on the fence, target from moon phase is 3-6k but I will not be surprised if targets get blown away by mass...
From my perspective, we're out of the triangle. I'm aware that Chinese prices look very different, but the price curve is pointed up instead of sideways on increasingly large time scales. There was a clear break-out with a higher high which re-tested the top of the triangle and bounced upwards to new 60-day highs. I think this is it; the next step is parabolic :)
Jep, this is it. the end is near. triangles playing out and we all gonna get rekt! I really wanna see a brakUP out of this lame sideway... BUT! BUT! there is ETH there is HALVING and there is lot of FOMO– so, we break 400$ an I see us back at 320$ and lower. that's why I call for 430$ «time will tell» decision is near
Bitcoin is at a huge juncture at $300 and it looks very close to breaking through. Plenty of room for upside and once it cracks that $300 mark, it's on like donkey kong. Depending on the risk you can handle, you can pick a stop-loss at various levels. I'm personally keeping a pretty tight stop-loss below the breakout zone on a 2h scale because I believe this is...