Bitcoin (BTC) Evening Update: Short Term Shows a Bounce; Longer Term Keeps an Eye on the MACD
SUMMARY
Bitcoin (BTC) placed some intermittent piercings of the long term support line. Not exactly what would stand out as wicked bull wicks but nevertheless, price is bouncing. However, I remain suspsect of this bounce and it's likely that price could still dip for a couple days below the long term support line and then return back in.
Keep an eye on the MACD pattern moving within the contracting lines of the symmetrical triangle. The MACD has now touched the bottom support line and so the next probable direction is up. Whether it'll breach to higher highs; we'll have to give it a few more days. The pathway I still believe is likely to be the white brick road withe the blue brick road as the alternate.
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Hey guys, I’m sure a lot of you saw this interview but I wanted to point out the most important things Bill Barhydt said…he works in Silicon Valley…he has massive connections and knows people who either run or work for hedge funds and venture capital firms…none of this money has been brought into crypto yet because they were waiting for clearer regulation and time to understand how to buy, trade and store it…Plus they have their finger on the button, but are just waiting for any signs of a bottom before pulling the trigger…Don’t listen to people on twitter or youtube that haven’t been in crypto during the hard times..also listen to people like Bill Barhydt and others that know high net worth investors and have the pulse on this sector…most important article I’ve read today….cheers guys
https://cryptoslate.com/abra-ceo-predicts-bitcoin-will-experience-huge-surge-year/
@haejin is the shitter. You are the toilet. Get it?
@haejin, where is your long term support line started? Daily close?
Using the July and September dips? My line seem to be a little higher up on all exchanges, so it looks like we are trading a couple 100 below LTS now.
Bitfinex:
Bitstamp:
Hitbtc:
Daily close and include all wicks.
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We have waited for months and 2 days of dip is just fine. Haha! Thank you for the update @haejin.
I agree with a lot you had to say.
Mahalo!
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Why?
thank you for your helpful analysis.
What do you think about this analysis?
