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Eric123

Epic Pennant on BTC Chart

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I see it the same way. We need some follow through to keep the rally alive, and we should get it. I might buy a little more LTC here. Easier for me to buy than some others because I have a better on ramp. Been adding ADA on the retrace, but I'd have to trade to make that happen fast...trying not do that.

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Posted (edited)

I maintain my view that we are still in the consolidation phase.

These spikes are not even comparable to what the fluctuations were in 2015.

For example, between the 18th and the 26th of January 2015, BTC went from 194$ to 303$.

This represented the whole price spectrum during the entire consolidation phase, 180$ being the bottom and 300$ the peak during the whole period.

It then kept fluctuating in smaller ranges, between 250$ and 300$, before finally taking off (very slowly).

Edited by JannaOneTrick

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14 minutes ago, JannaOneTrick said:

I maintain my view that we are still in the consolidation phase.

These spikes are not even comparable to what the fluctuations were in 2015.

For example, between the 18th and the 26th of January 2015, BTC went from 194$ to 303$.

This represented the whole price spectrum during the entire consolidation phase, 180$ being the bottom and 300$ the peak during the whole period.

It then kept fluctuating in smaller ranges, between 250$ and 300$, before finally taking off (very slowly).

No, I'm in agreement with you. I was just expecting some decent follow through on the first big move up. I don't think we're off to the races, just yet. But just because we bounced off today it isn't a big deal. The volume was starting to look promising and I thought we might break out above last weeks high. We still might. My expectations are still restrained, beyond that....

Miles to go before we sleep at the Ritz-Carlton and eat fois gras and drink the Dom Perignon. 

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Price has been under assault all day and has been holding up shockingly well. It seems the floor has been set at $5k. Attached is the one minute chart. Last night at about 1/4 to midnight Eastern US time  or 3:44am local time for the exchange (I was watching) someone dumped 2,795 bitcoins in what appears to be one trade dropping the price $200. As far as volume goes, this volume is 10x the volume of any other minute today. Litecoin is getting the worst of it with the price even dropping the 100 Day EMA below the 200 Day EMA (which had previously moved above hours before).  If i hadn't already bought into Litecoin at lower prices I'd be picking some up now.  Wonder if this has anything to do with Bittrex halting all trading for NY residents starting at close of business today?  Anyway, I think we might have an equal reversal tomorrow based on the price action.

assault.png

assault litecoin.png

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Posted (edited)
4 minutes ago, ObeyTheWafflehouse said:

@Julian_Williams We need reaffirm the support around this $3000-3600 mark. If support holds again, this will be a signal that we are out of the bear market. BTC 2015 historical data is what we are all abiding by. 

 

Its a big drop back to 3600 - is the alternative that we go up to test 6000 and drop back to 5.2 or 4.2?  (I know nothing of TA)

Edited by Julian_Williams

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2 hours ago, Julian_Williams said:

is the alternative that we go up to test 6000 and drop back to 5.2 or 4.2? 

Yes, but IMO not very likely. Two reasons. First the money flow is not supporting the price of BTC right now. Second the market moves in wave like properties (normally). We just exited from the bear market (again IMO), the market needs to "gather its breathe" before we think about breaking through the resistance at $6000. 

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Still waiting for the price of bitcoin to break back to the $6.5k level then resume a gradual increase back to our previous high.  The price stalled at the 350 Day EMA - this is the level I'll be watching.  The 100 Day and 200 Day EMA's are moving up and the 350 Day EMA has all but flattened out.  Just playing the waiting game now.

Bitcoin 350.png

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42 minutes ago, Eric123 said:

Still waiting for the price of bitcoin to break back to the $6.5k level then resume a gradual increase back to our previous high.  The price stalled at the 350 Day EMA - this is the level I'll be watching.  The 100 Day and 200 Day EMA's are moving up and the 350 Day EMA has all but flattened out.  Just playing the waiting game now.

Bitcoin 350.png

Wow! I've seen Olympic ice skating venues with more slope than that 350-Day EMA now has. I look forward to you being right again.

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