Triangle pattern and uptrend regression LONG indicationNot much to say here. We see an obvious regression going on indicating an uptrend is about to take place, however it's also possible the stock price follows the triangle pattern plotted breaking through the bottom (bearish) or top (bullish). It's any mans guess at this point.
Regression
Linear Regression TrendsGreen: lin reg of all time price action on Bitstamp
Red: lin reg of downtrend
Assuming price is going to spend same time bellow the green line as above it, and also move the same amount (in %).
I'm using linear scaling because linear regression doesn't seem to work well on log scale.
We might see a last push towards 130 - 152(last major low). place your bids in this range.
After bottoming expect regression to the mean (atleast).
Suspicious. Bitcoin misses Christmas?The mainstream press like CNN, Bloomberg or The Guardian thinks that Bitcoin is dead by simply comparing the price change from December 2013 to 2014. Bitcoin is far from dead, but there is a risk of a new downtrend if the price falls below $315
- Bitcoin Bears Say Told You So As Digital Currency Falls (Bloomberg. December 15, 2014)
www.bloomberg.com
- Bitcoin stalls after hitting record prices in 2013 (The Guardian. December 15, 2014)
www.theguardian.com
- Is Bitcoin over? (CNN International. December 15, 2014)
twitter.com
FDX breakoutFDX is another one of our preferred trending stocks and has been discussed in our private forum a few times.
Price broke out of the regression trend channel almost 2 weeks ago and continued to trend upward. Yesterday price closed above the resistance level and this has now been placed onto our bullish watchlist.
Wewill wait for a chart pattern to set up any long positions.