Igloobamboo

Igloobamboo

See this weekend Bitstamp chart with yellow boxes and triangles pointing to why. Then look at volume profile on the binance $btc/$usdt chart climbing substantially. Mtgox likely 50% priced in from November and 50% going to take a long time to pay all. $btc likely to be heavy to move for a few years.

Igloobamboo

The bounce came at $48k a few days back but nothing convincing seems to be pushing the price higher. Could we be looking at a total pullback of -33% with another -10% remaining to go? If so, that would touch the 21 weekly MA and using the daily chart with the pitchfork we can can get one view of when the pullback might complete and the direction of travel if that...

Igloobamboo

Look hourly to the bear flags formed across many markets. With the break out and down from the channel price was contained within, bears could attempt to seize the movement, but with favourable buying conditions and no apparent lack of enthusiasm, it's possible that this could be just a momentary flash crash in price. Watch daily to check the trend and watch...

Igloobamboo

We clearly have rising price action over time that is contained within boundaries. Marking a mid point line, we can see that this has been a minor area of support or resistance throughout the recent price action. Will the Coinbase IPO give a lift into the upper portion of the pattern? Perhaps a slight lag as the news of the IPO reaches more people via mainstream...

Igloobamboo

Just a short term trend to track as could potentially be last time we stop at 61k for a while or could be the start of the next sequence of price moves

Igloobamboo

The bullish rally was strong and easily predicted due to good buying conditions. Normally, we would expect a minor correction that forms a bullflag and moves up higher, but the last time this happened with low volume, the momentum was lost and selling became an easier win. Period of high uncertainty! If the rally fails to fully materialise and produce further...

Igloobamboo

Text boxes explain it all.

Igloobamboo

As with any trend or pattern, this is one of many potential outcomes in the murky world of trying to read the BTC price tea leaves....

Igloobamboo

Just noting that I tracked the two cup patterns on the left whilst searching for W's and we appear to have formed one in this recent strong support phase...... Last time we saw a tightening of the bollinger bands which indicated a pop! might occur. It means little until it has gone up unfortunately, but always worth being aware of!

Igloobamboo

Clearly you would want to see the pattern complete for confirmation and it's always difficult to wait for that (but necessary!), but with bulls holding the line the last 24hrs and after the ETF FUD, there's is a chance! Forming this pattern would require that we break from the broadening formation that has been descending over the last few days. That makes it...

Igloobamboo

worked before so why not hahah

Igloobamboo

Bullish!

Igloobamboo Updated 

This is pointing towards a break from the recent downtrend to grab more free air!