btcdrak

btcdrak

Weekly 52EMA is the best indicator of trend the long reversal, we're at make or break, but with 6 weekly green candles, it's looking pretty good.

btcdrak

Turbulent times, zoom out for clarity.

btcdrak

Not looking hopeful for the rest of this year, $200 as the new ceiling looks like a real possibility. Maybe 2016's halving will bring some relied if Mike and Gavin haven't #rekt all credibility in Bitcoin by then. $215-220 looks like the last battle ground for support this year. Sideways is always possible but doesn't seem likely given the EMA which shows the...

btcdrak

Continuing from my previous chart, we look set to tackle the daily 200EMA which has been a clear resistance level during the bear trend. We clearly rose above the 3d50MA which was the 3 day resistance line for the last 10 months. If we break the daily 200EMA it will be a very powerful bullish signal. The next historical resistance would be the monthly R2, a...

btcdrak

LTC/BTC seems to want another leg up. If we repeat the pattern of flags, hidden bullish divergences and near vertical take off, this is what is could look like. This is litecoin, so anything can happen (like end of pump cliff drop, or shakedown then pump), so stops and risk management accordingly, but we've got the litecoin halving meme/expectations giving plenty...

btcdrak

With the Shanghai Class A in bearish decline, where will the liberated Chinese Yuan go? If Bitcoin makes some decent spikes it could be a great time for Chinese speculators to return to bitcoin. Keep an eye on volume.

btcdrak

We can see an interesting confluence of events on this chart. 1. The 3d 50MA has been a classic resistance for the last 9 months. We burst through it and subsequent candle bodies have remained above it. 2. The 200EMA has also acted as a strong resistance, and we bounced of it on the initial spike above the 50MA selling off on the R2 which is the expected take...