MACD: Has crossed and trend is down RSI: Has touched top Support: We're at a previous support Volume Profile: has a gap a lower support. Daily Volume: Is lower than during the rally to this level Prediction: Short
Been watching some videos, and trying to put to use what I've learned. My current understanding of the ABCD and XABCD pattern/tools. Edit: "Fib extension on CD..." should read "Fib extension on BC". If this works out, price should go to ~$440 then make a resumption of the downward trend. www.youtube.com www.youtube.com www.youtube.com
BTC will take any chance it gets to rally. So many traders are waiting for the 'to the moon' moment. Even though I'm an uber bull longer term, I'm bearish on for the short. In the coming weeks I see a continuation of the downwards trend until we've really forgotten Gox and China. Then we'll see the long haul up, but that's probably months away.
Try catch a low swing and move with the weekly trend
Trying to apply the inverted Head & Shoulders pattern to the recent BTCGBP activity
This is my first published chart. Pretty new to chart analysis but trying my hand at putting my thoughts out there. I put most of this together on Friday (17-01-2014) and have added comments and forecasting since (after some very insightful advice). Been watching as things actually seemed to play out not too far from what was expected, kicking myself for not...