Inverted Bitcoin (BTC) Head & Shoulders (Bottom) Signaled?
Inverted Bitcoin (BTC) Head & Shoulders (Bottom) Signaled?
Bottom Tested 3 Times/Confirmed SUPPORT Level
I'm seeing an inverted Head & Shoulders forming with rising volume that at 14,000 could signal the bottom is in and a reversal back up for a New Year's rally in the making. That's what it appears to be doing at this point, and if so, would lift up the whole market like the ocean tide rising in all the rivers. RSI and MACD are moving upwards with lots of space to run. The 50 EMA (50 day moving average) is curling upwards as the volumes are building. All system's go.
In all honesty, I believe a large portion of this move will be because of Bitcoin (BTC) primary infrastructural utility as a conduit for people to move fiat funds into purchase other alt coins, as well as into Wall Street via the CBOE and CME. My favorite alternative currencies [to at least hedge BTC] are especially Bitcoin Cash (BCH) and Stellar (STR/XLM), but also Cardano, Ethereum, Litecoin, Dash and Ripple.
On a somewhat funny side note: There is the lunar trading theory, AKA "Moon Theory", which says a Full Mooon is the best time to buy and New Moon the best time to sell. Last night was Full Moon.
Of course, "this is not financial advice". I'm just sharing my research, thoughts and ideas.
Wishing you all a Happy New Year and
All the very best wishes of luck in your trading ;)
Bottom Tested 3 Times/Confirmed SUPPORT Level
I'm seeing an inverted Head & Shoulders forming with rising volume that at 14,000 could signal the bottom is in and a reversal back up for a New Year's rally in the making. That's what it appears to be doing at this point, and if so, would lift up the whole market like the ocean tide rising in all the rivers. RSI and MACD are moving upwards with lots of space to run. The 50 EMA (50 day moving average) is curling upwards as the volumes are building. All system's go.
In all honesty, I believe a large portion of this move will be because of Bitcoin (BTC) primary infrastructural utility as a conduit for people to move fiat funds into purchase other alt coins, as well as into Wall Street via the CBOE and CME. My favorite alternative currencies [to at least hedge BTC] are especially Bitcoin Cash (BCH) and Stellar (STR/XLM), but also Cardano, Ethereum, Litecoin, Dash and Ripple.
On a somewhat funny side note: There is the lunar trading theory, AKA "Moon Theory", which says a Full Mooon is the best time to buy and New Moon the best time to sell. Last night was Full Moon.
Of course, "this is not financial advice". I'm just sharing my research, thoughts and ideas.
Wishing you all a Happy New Year and
All the very best wishes of luck in your trading ;)
Trade active
Nice Breakout so far. Now hitting resistance to break through in the 15,400-16,000 range. Once that's done it will not have as much resistance and the coast will be clear for targeting 20,000+ ATH (All Time Highs) again.
All the best luck in trading
Note
By the way, Happy Birthday, Bitcoin (BTC)! Today, Jan. 3rd, 2018, is exactly 9 years since the first day Bitcoin was first mined; and what an amazing 9 years it has been.
Trade active
Seems to be following my best guess projections closely. Let's see if the next leg up kicks in too.
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.
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.