DoctorBitcoin

DoctorBitcoin

Bullish Bitcoin Cup&Handle. It will confirm above $260 (1,600 CNY), and there is where I will aggressively open long positions. As it is a very good 3.35 risk/reward ratio if we set stop loss below $240. Overall it seems there is enough support over $200, so moving up is probably the natural market movement with less resistance. A lot of shorts and sellers are...

DoctorBitcoin

We are inside a clear downtrend channel in the Daily RSI. As long as it holds the most likely scenario is price going down. First to retest the 1500 CNY area and then 1300 CNY area. This should play in the next days/few weeks. Shorting from 1700 CNY area gives a 4:1 risk/reward ratio to 1300 CNY area with a stop loss if channes breaks above 1800 CNY are. So...

DoctorBitcoin

Yesterday night bitcoin finally broke two month strong upwards support in Chinese exchanges. It didn't fall further at that time because movement was stopped by Microsoft acceptance of bitcoin, so instead it rallied +10%, after doing the first lower low in the 4H chart. While this news are good for longterm bitcoin adoption, it means nothing else than a Pump&Dump...

DoctorBitcoin

I was not expecting it to happen so fast, so it's even a better scenario. After 9 days market is panicking again, but this time in the opposite direction. Price is now $351, with a big spike down to $346. There could be still some more room to panic sells to retest the support even lower, at $340 or even $335, but that's not guaranteed. Take into consideration...

DoctorBitcoin

Current trend support is now broken, it should act now as resistance. Major time frames indicators are bearish or turning bearish, while US Marshalls dumping another 50,000 bitcoins will help to start slowly spreading panic. US Marshalls seem to always pick the best timing for selling their bitcoins, according to their limited medium time frame. This is the second...

DoctorBitcoin

For 5 long months bitcoin has been slowly going down in price without having any chance of recovery. It seems to have found some support at lower $3xx near long term support line as longer time frames 1W, 1D are finally showing strong bullish divergences. It is a good opportunity to open longterm long positions above green dotted line on the green box with a...

DoctorBitcoin

Momentum indicators show bulls are exhausted after a small breakout at 2010 CNY, plus volume is not picking up. A pullback to 2030-2010 CNY to retest breakout level is the most likely scenario. With a tight stop loss at around 2100 resistance it offers 2.5 risk/reward ratio. Good opportunity for a small short. I wouldn't keep this short oppened if 2100 is broken...