Bitcoin BTCUSD Bitstamp - Monthly Downtrend Time expired
Updated
Time has expired for Bitcoin to decline and the price "failed" to drop to the suggested targets. It looks as if Bitcoin has upside to rally back to the previous mode in the next 9 months.
Look at the previous forecasts on Bitcoin to see how these trade setups have done and how they worked. Lately the methodology has been a little choppy after working so perfectly for so long.
436 upside potential (~ +80%)
196 stop loss (~ -20%)
4:1 reward/risk ratio
Tim
Look at the previous forecasts on Bitcoin to see how these trade setups have done and how they worked. Lately the methodology has been a little choppy after working so perfectly for so long.
436 upside potential (~ +80%)
196 stop loss (~ -20%)
4:1 reward/risk ratio
Tim
Trade closed: target reached
Anything over $436 was a bonus - $502 was the high.Note
Thanks for re-viewing this long term idea from a year ago. The monthly time frame is a solid time frame from which to view the trend of Bitcoin, even though Bitstamp is not the dominant market for Bitcoin. It's great to see low risk, high return trades pan out using the logical construct of "Time At Mode".
Tim November 1, 2016
Note
Here's my update as of Nov 17, 2016 8:15AM EST
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.