Here is what I am watching on the 30min chart. It looks like we may break out up, but this is a high risk trade as there are indications we are very over sold on the other charts. The bigger thing I am watching is the formation of a new log channel. If this new channel continues we will go extremely high and make Tulip Mania look like a drop in the bucket. Basically Tulip Mania on a global scale... but then again, Tulip Mania on a global scale could just work...
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Sorry, over bought, not over sold.
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We are out. Higher! I did have to adjust/expand the pennant. I was a bit early to the game, but not wrong.
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Be careful with this trade. As I said before, it is very high risk and RSI and MACD both say we are very over bought right now.
CME futures now confirmed for 18th dec.......I think UP
BMoom
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@webmonkey, I think up for now, as well, but would not be surprised if Bitcoin gets shorted on the futures come the 18th. We are very over bought. December will be interesting. Even more interestingly, it looks like we may have moved into a new era with a new channel and it goes straight up. We will need a correction to find the bottom of the channel. My guess is we find it this month (Dec).
GJMRealEstate
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today surpassing the market caps of the largest corporations.. tomorrow pricing in the GDP of the worlds largest nations..
Arvin_Darred
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@gjmullen, Its coming down. And coming down hard. You think the whales are going to let CME in on the party? lol