~30 angle on the yellow line & ~45 coupled with volume expansion on the purple line, AKA the bump. Correction to speculative excess is due. Observe 920 for support. I expect further bad news from China (excluding the personal account at Huobi) either this month or the next. In addition, look out for the impact of merchants acting as liquidity players coupled with...
Clear pennant, zero support at this price. I expect another dip.
My prediction remains bearish, but I want to detail a very-real scenario that I believe has a high probability of occurring. This prediction acts against a backdrop of why I believe that yes, this is a bubble and, no, anything north of 1000 is not sustainable. To fully deluge my bearish reasoning I'd need to write a short essay so in the interest of brevity I'll...
These pop up quite frequently - keep an eye on them.
My last chart suffered from the myopia of focusing only on Mt Gox along with giving excessive weight to technical analysis. Regardless of whether or not Bitcoin's price rises to 1300 or even 1400, I will remain short. The most important divergence is not to be found in the MACD or RSI but people's widespread (yet fragile) exuberance. Importantly, yesterday we...
The basis for the idea that we're seeing a double top is not just the obvious chart pattern but the low volume, MACD histogram divergence and break in stoch RSI buy signals. Immediate target for a sell-off based on the previous low. Moving beyond that, I believe that BTC is overvalued and overbought - still stuck in an optimistic cycle that is swiftly running out...