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Buttcoin

All Eyes on ButtcoinHave we been here before? I overlayed the fractal of the 2013-2014 peak to see if there was any resemblance and there is some. Looking at the RSI, we seem to have crouching bear and hidden bull, which is quite confusing. The RSI does seem to be in a downtrend though and so I wouldn't be surprised if we made some meaty retracements in the medium term. In the short term, I'm expecting a bit of upwards movement that might be spurred on by the hidden bull but there's definitely some rock hard resistance that smacked the bulls down from 19,200CNY. Hats off to the bulls for such a juicy rally though. I'd love to see those highs retested but the sense of deja vu I'm getting right now is making me think that it might be time for the bears to take control again. I'll be keeping a close eye in the coming days and weeks as money can be made whichever way we go.
BITSTAMP:BTCUSDShort
by K155MY4R53
2
To tha moon!Shopping for Bitcoins in the wall street? That's your one and only choice for now, and if you're bullish on Bitcoin this is it. This stock have been hammered from $10 to less than $0.1 last year, and it looks to be finally bottoming here with a break to the upside. Bitcoin ETF launch could blow this straight to the moon with all the hype, yet only retracing less than 20% of its value from the peak. BTCS does mining, ATM, wallet, eCommerce & anything related to Bitcoin, so its fate is really tied to it. If Bitcoin doesn't succeed, so will the company. The final target will be $2.3, but I will keep selling half upon it doubling on my purchase price.. ------------------- Warning: Given the price and speculative play in nature, only bet on those that you can afford to lose and keep the position small.
BLong
by LastBattle
8
Long-Term Decision PointI'm not going to make a call either way on this one but we should be able to clearly see the choice that is made within the next few days. The price has returned to that orange resistance trendline that forced it out of its purple channel late last year. On the RSI, we can see that the orange resistance trendline is potentially going to be broken. Failing that, a bearish divergence would be produced and it might be some time before the price attempts to break this trendline again. On the other hand, if the bullish scenario happens, we could see some seriously bull action in the medium to long-term.
BITSTAMP:BTCUSD
by K155MY4R53
3
Comparison of the Paypal and Microsoft FractalsUpdate: This trade worked out perfectly and netted a lovely 100CNY drop (-4.56%). Of course, you could have held on for much greater profits. With the original trade, however, just multiply the percentage drop by your preferred magnitude of leverage and you have your percentage profit; with 20x, this trade roughly doubled your money. Holding on until the bottom would have roughly quadrupled it. ------------------------------------- As you can see, the Paypal spike was actually much larger than this one and the market corrected as if nothing had happened within four days. The indicators (that I use) are a bit useless on the hourly right now, but the RSI certainly senses a bit of an uptrend. However, the price was firmly rejected by the top of this descending triangle and the mid-term support that has turned into resistance (I'll post a zoomed out chart in the comments to show this all more clearly). There's some very strong resistance above here, so I'm going to put a little short trade on and we'll see what happens. Also, if you'd like OKCoin to implement an OCO feature that would allow futures contracts to have stop and limit orders placed on them simultaneously, vote here: okcoin.uservoice.com
BShort
by K155MY4R53
17
Bearish Forecast Becoming Reality Sooner than ExpectedIt looks like we're coming in for a third contact with the lower mid-term support when every other contact with these purple lines has been a single touch before traversing to the other one. It seems obvious that the orange resistance is coming into play even though it's a good distance away from the current price. The RSI has broken down from the steeper gradient that I predicted, however, I don't think we'll see fireworks before it breaks that second, lower gradient that was actually in play rather than just predicted. The price has been propped up for almost a week by that long-term 0.236 (372.74) fib retracement. That looks like it's about to yield with the price getting intimate with it as I type. Once broken, I'd forecast a fairly strong bounce off the mid-term 0.5 (364.27) fib retracement and mid-term support (purple) before meeting resistance from the fib lines and finally breaking that mid-term support. However, if the RSI manages to bounce off that second gradient, there could be some upside left in the coin yet. Buckle up.
BITSTAMP:BTCUSDShort
by K155MY4R53
3