Will open a long at 240. Stop loss at 234. Target ~300 level. We're currently consolidating in the form of a ascending triangle. The pace seems sustainable. Moving averages act beautiful support. Might consider taking profits at ~272. Watch the breakout at 250 closely. Possible within 7 days.
Very simple chart with basic analysis. It's what seems to work best for me. There's a very predictable pattern in Bitcoin. Others have pointed it out and it's very easy to spot. Basically, Bitcoin loves heavy moves upon break of a resistance/support level after a period of consolidation. We can easily see very large moves in price after these breakouts. We're...
I had a long standing buy at 275.5 USD. It was hit very nicely but when the volume and the "panic" was not there, I felt like an reversal was not an option. It feels like we're going down even more. So I closed my long when the price bounced at MA 20 and then opened a short there. My target is 250, will close a few dollars above. Historical resistance levels are...
What followed after the "bottom" as some say was a rally up to approx. 385 USD where the market started consolidation in the form of a descending triangle. After that we got another rally to approx. 412 USD. Now we're seeing consolidation again and I expect the next rally to hit at least 430-440 USD. We can clearly see that previous resistance levels have become...
The descending triangle that was created due to the PayPal news had a breakout. We broke below the resistance and I opened a short. At 376, the bulls took over and pushed back the bears and we ended up with a bullish shooting star candlestick formation. The next candle opened with a positive gap and I opened a long position there. I'm expecting a retest of 400,...
NOTE: I'm very new to technical analysis and trading. I urge you to not make trades from my "ideas". This is just something I do for fun and to get experience/feedback.
What I see is that we have a possible pennant forming on Bitstamp 2h chart. We have a period of consolidation from a sharp up trend, which looks like a pennant. If we will see volume on the...
Spent major part of the day trying to learn technical analysis. This is my first attempt! Needless to say, don''t trust my chart, it's probably useless. Just trying to get experience. What I saw was a rectangular flag with a flagpole, so I guess if the resistance is broken then BTC will maybe rise 70 USD?
