The cycle repeated but I am bearish right now. Tell me what you think in the comments.
This is the third time that Bitcoin goes draws similar flag pattern. What do you think?
My latest prediction went better than I expected. The correction is over after breaking the wedge resistance. The bull run is back!
My last H&S idea went perfectly, now I see the Gartley harmonic pattern formed, so I have already sold my BTC.
Wherever we go, we are still stuck in the white channel. I don't see much hope for the next bubble. It is just a regular descending channel. Don't forget the possibility of breaking down soon (red arrow).
I have noticed the two patterns in picture. Both are reversal patterns, so we should observe an upward movement. It confirms my Gartleys idea (check related) in the longer term.
Target: 340 Stop Loss: 210 USD Base: myforexmagicwave.com Comment: We can see, that the first Gartley was a very nice example of the theoretical model from the link. There is a strong possibility that the second will be similar.
Target: 200 USD SL: 260 USD It seems, that we can observe the third bat formation here. The both ones were successful for me and helped me with recovering from MT Gox loss. Let's see, what will happen this time. Indicators: Stoch RSI clearly overbought.
Comments are welcome. EDIT: It is called an inverse head and shoulders pattern: www.investopedia.com
Target: 320 USD SL: 200 USD Indicators: RSI, Stoch RSI oversold.
I was wondering, and I am sure that you were too, whether this is the end of bitcoin or not. Hopefully, the bitcoin economy grew massively during last year. I am sure, that this is the one and only factor which blocked bitcoin from falling apart. Have a look at the chart. Isn't it a beautiful, regular structure? Is it similar to the bubble?...
The divergence on both MACD and RSI strengthen the Double Bottom setup. Looking for a bounce.