Holy crap! That is a bullish weekly pinbar if it closes like that in 24 hours!
Last year, there were only three red volume months; January, March and September. September dumped because of profit taking after Segwit activated last August 24.
However, Bitcoin quickly recovered and rallied to its peak during the launch of CME Futures last December 18. So basically, January 2018 is a month of profit taking by speculators who bought prior to the CME hype.
This February will define if Bitcoin will continue its uptrend to $33,000 after the January correction. The monthly chart shows strong support along $10,000 which also a psychological level.
Daily chart
Some bullish traders are expecting a repeat of the fractal patterns made before. On Balance volume indicates a steady stream of money coming in despite the price decline. Hopeful bulls are waiting around the 200 day MA ($8,963) to buy in.
Trade setup:
Buy/long the breakup/breakout of the triangle.
Sell/short the breakdown of the triangle.
Buy along the 200 day Moving Average.
Buy when it breaks out of the falling wedge cuz it's gonna re-test $10k resistance. Or you can buy the neckline breakout of the inverted head and shoulders pattern.
LOOOOOOOOOOOOOOOOOOOOOOOOLLLLL!
Did you buy the breakout?
This is a bubble now, right?
Test bubble. Wait for the real bubble. $400bn marketcap is chump change for the financial whales. At $3 trillion, you'd better take profits.
Buy the neckline breakout of the inverted head and shoulder pattern around $8,893 and sell when it hits $10k.
When price is above the ichimoku cloud, it is bullish. Future support price will be also around $8,893.
However many traders are still anticipating a bottom Adam and Eve pattern, so many are still waiting to buy around $7,000.
MACD is the worst indicator of all indicators. Bots that use MACD strategy (buying/selling crosses) often lose money in the long run.
Buy the neckline breakout of the inverted head and shoulder pattern around $8,893 and sell when it hits $10k.
Woohoo! Reversal is near!
Close to a Morning Star pattern in the weekly:
Buy the neckline breakout of the inverted head and shoulder pattern around $8,893 and sell when it hits $10k.
Woohoo! Reversal is near!
Close to a Morning Star pattern in the weekly:
Thanks for the fish, gentlemen.
Where did the Bitcoin price movement tracking & discussion went to?
Where did the Bitcoin price movement tracking & discussion went to?
We observed the wall, but there was very little writing on it. Now it is more interesting. Bitcorn can be disgusted by anyone, at any time, just put forth a theory and someone will shoot it down for you! Leave the tracking to google and farcebook.
No need to check the charts. The quantity of insults on this thread is inversely correlated to price velocity. Sadly it trails rather than leads.
Well, anyway. If Bitcorn is going to retrace a bit, I believe first support would be the psychological level of $10,000 and then down to $9,300 (Feb 2 - 4 high prices) and the bulls will start to attack the diagonal downtrend line around Feb 28. And then back to ATH.
I would sprinkle buys around 9.3 to 10k.
What price to buy BTC - buying time
1. 0.5 fib retrace
2. identified support/resistance levels
3. Middle Bollinger Band
