Here we have Bitcoin and as you can see we broke out of a confirmed iH&s and continued our breakout but manipulation and fud have brought the price back down to almost 100% retracement! Currently we are sitting around the 78.6% retracement zone and I have a really hard time believing we are going to go below these levels from here. Now lets look at the TDI indicator below the candlesticks. As you can see the orange line on the tdi is still sitting above the 50, now with over 20 years of experience using the tdi, typically with the orange line, is that if it holds above the 50, we are still to be in UPTREND, only when we cross down the 50 will i consider us DOWNTREND. Last but not least I'm also using bitcoin longs indicator, and it appears they are stacking up ;) DYOR and DD...... take care and happy trading. Bitcoin will replace fiat currencies, look at whats happening to turkey! What great timing eh?? bitcoins only $6300 that's a steal!
Note
Still holding that 78.6%, got rejected at a higher low than the previous so that's a good thing. Orange line on the TDI still MAINTAINING the 50. Bitcoin is currently trading at 6420 at the time of writing this and i believe will be trading past 6500 today. LETS DO THIS BULLSNote
Also to me the last few candlesticks represent a Break Hook and Go but thats just me, we just waiting on the "GO" part :)Note
LONG
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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.