ronfkingswanson
Long

Sometimes the best thing to do is just scribble, wait, and HODL

BTCE:BTCUSD   Bitcoin / Dollar
3078 5 45
This is that chart -- the one that I never published, but should have long ago, because for once I stopped trying to make a technical analysis , grabbed the marker and just scribbled a potential path based on the price action in this two-year long bull channel .

Back on June 16th, as the rally was peaking in the blue zone, I freehanded a sloppy pink scribble which over many months seemed to attract candles like a magnet. I haven't been maintaining any other charts, just checking in on this daily one all year. Now here we are, poised to finally break out of this blue S/R zone and rally once again, this time within reach of the previous ATH             . The last pause I could imagine would be the $800 level, but it shouldn't stop the moon train...

Obviously the exact timing of this rally hasn't perfectly stuck to the path of the pink scribble, but I'll still be satisfied if we moon a few weeks late ;)

(sorry for the sloppy oversized arrows, they didn't seem to show up quite the same when published...)

Here's the first snapshot I posted in the chat -
Kommentar: finally got out breakout from the blue zone! RSI had perfectly touched the bottom of the local channel and curled upwards, so this shouldn't be much of a surprise. Price was already hugging the top of the zone, so any upwards RSI momentum HAD to push price through the resistance

Kommentar: still crawling upwards, but hasn't kicked into rally mode yet...
Kommentar: The slow upward grind finally popped the 800 S/R level. Adjusted some lines to show how we could end up revisiting the old ATH without even leaving the current two-year bull channel
Kommentar: momentum popping out of the blue zone resulted in a nice touch of the top of the yellow wedge. We should pause here for a bit, but might not really pullback as much as the curvy green scribble shows.
Kommentar: pausing at the last S/R level since 2013 ATH. clearly still enough bull pressure to take us higher
Kommentar: TOUCH. as if a two-year long bull channel wasn't enough to trust, there's your confirmation :) :) :)
Kommentar: aaaaaaaaand here comes the correction channel
Trade geschlossen: Ziel wurde erreicht: took a little extra whiplash, but pink scribble has been fulfilled ;) Also confirms the ancient grey channel. I'd expect a little consolidation/correction at this point
Do you have any advice for me now? I'm very confused by the BTC/USD price right now :(
+1 Antworten
Excellent work , spot on analysis every time
Antworten
yeah nice work ron. The bitstamp version of this may be showing a nice long term rising wedge too
Antworten
should change your name to ronfkingswami
Antworten
impressive, you selling now?
Antworten
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Startseite Aktien-Screener Devisen Signal-Finder Kryptowährung Signal-Finder Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden