Setup for a 40% drop again, second leg of the measured move, with cheap coin buy zone at 9K. If this recent selloff to 11K was really the "bottom", we should have sprung back up forcefully to retrace -- but we never got above the 50% level, which is rather bearish given all the recent enthusiasm. Also failed to break above the orange ceiling trendline at a crucial point, and then there's that juicy 4H doji indicating reversal. Smaller timeframes show rising wedge breakdowns already.
Had a nice buy zone at 13K, with the intent to ride the first rebound all the way to 17-18K to sell. But bulls ran out of steam...
Enjoy your cheap christmas coins! Should rebound quite explosively after kissing that buy zone...
Trade ist aktiv
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contrary forecast: this leg lands on 13K and then takes off to finally bust the orange ceiling and take us to the 18K zone so folks can unload all the coin they wish they had done earlier :P (and THEN we have another slippery slide down to 9K)
Trade ist aktiv
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currently riding a small long up from 12,800, with the expectation to sell again when we hit the trendline ceiling -- unless momentum breaches and invalidates. in which case, I'll be happy to ride the rally up to dumping zone @18k -- wash, rinse, repeat
Trade ist aktiv
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multiple attempts to breakout denied on low volume, so we're still slipping (just not as rapidly as my original sketch)
We have cut market cup and also gdax seems like manipulated by the program. If you not stupid take a look all support line you will be surprise (if you have IT technology knowledge ).
This chart base on roomer from investors from Bank of America states BTC will go down as far as possible then it will be quick bullish market until adjoins come to market with FIAT exchange. It will be by January 18. Why? Because the all funds must put their money into investment by the end of January 15. There will be no any long term any more for BTC. This cycle is over same as back in 2013. I wish I am wrong because I will enter this game again. So far its over for BTC but only beginning for Alk.
TheChasm
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We need a bull trap before decent to 8k Ron
Alimoheb55
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20 December
Price bitcoin = 17000
Price cvc = 0.00005669
Price power = 0.00007502
Alimoheb55
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I had Bitcoin December 20, I changed to CVC and power and kcs.
Wrong or true
the_sunship
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Perfect, looks exactly right - thank you!
Benjamix
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Nice chart !! Best of luck !!
austinmfcoats
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Agree, bitcoin should have gone up to at least 17k. The way litecoin and Ethereum shot up was way more impressive.
Universe
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At this point I hope this happens. Give us a good correction, cool things off. I don't want the long term bull market to end post MtGox style, but short term bear would be nice.
This chart base on roomer from investors from Bank of America states BTC will go down as far as possible then it will be quick bullish market until adjoins come to market with FIAT exchange. It will be by January 18. Why? Because the all funds must put their money into investment by the end of January 15. There will be no any long term any more for BTC. This cycle is over same as back in 2013. I wish I am wrong because I will enter this game again. So far its over for BTC but only beginning for Alk.