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Lunar

Daily breakdown retest dueWe've hit daily support at the breakout zone in a very oversold market. If we see more bear action, it most likely won't be until later. I've outlined important daily support and resistance levels on the chart, and the next stop appears to be a retest of $252 where the market broke to the downside with huge red candles on very little volume compared to the recent bull run. Also of note is the lunar action. During the last full moon, we saw the market hit support at $255 and try to rally but fail. During the most recent new moon, the price was just breaking out to the upside, which is significant since the new moon is normally a bearish signal. We eventually got our retrace on low volume and now look to make another move to at least retest the breakdown level. When we get there, we should be at a full moon, so you can look for that as a timing indicator for a future move. Also of note is that we are no longer in uncharted territory as we finally have some daily points of support and resistance to look at from the recent past. BTC Donations: 1AAqUxpRiXSYhyFfSTjv6rDY5dQ8CD2KJE Thanks!
BITFINEX:BTCUSDLong
by MoonTrader
19
The end (of the bear market) is nigh!As I've said before, we've been in descending wedge consolidation pattern for over a year now. Naturally, things are quite choppy and indecisive toward the end of this consolidation, but the important point is that all available info says we are close to a bullish breakout. Some reasons why are posted on the chart. First of all, the descending wedge, which we are very close to the end of, is bullish. The 3 divers pattern, which is not explicitly shown here, is also bullish. The moons appear to be bullish as well, with the bottoms of the highlighted fractals occurring during a full moon and a possible shortening of the time frame to go along with the tightening range of the descending wedge, as shown by the numbering of the moons. With that said, I can't leave out the possibility of a slow decline toward the end of the wedge that drags out for several more weeks, but it appears that there is far more upside than downside in the market right now, especially with the USD showing signs of topping out. Although more downside is possible, this may be a good time to accumulate a partial long position in anticipation of the breakout and save the rest for reactionary trades. I'm optimistic for the future, so I'll be looking for a place to long in the relatively near future. BTC Donations: 1QFuqhJGMbfubBzkSAm5KeYr3nRLA7HeHL Thanks!
BITFINEX:BTCUSDLong
by MoonTrader
7
Market clearly bullishThis is the kind of "slow uptrend" we get when the market is preparing to break out of of a long term downtrend. Price isn't moving very fast, but that's a good thing. The volume tells me that the market is done with its downward consolidation for now. The market is gaining momentum, as it has broken 2 of the intermediate term downtrend lines, a sign that it's reversing. There may be another small consolidation before breaking out, but I don't anticipate any new lows being made anytime soon. If and when it breaks the long term downtrend, the first target is at least 450, then possibly an even larger bull run or maybe a resumption of the downtrend. Either way, I'm long since $323 and holding. If you follow my trades, please donate: 1JzjmYmk2enL3HPCoruSR7KYQRQ4bkoTR4 Thanks!
BITSTAMP:BTCUSDLong
by MoonTrader
5