DreamBlood
Long

BTC - The Triangle

BITSTAMP:BTCUSD   Bitcoin / Dollar
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Bitcoin is currently moving in a triangle. If btc does a breakout , stops are at 16400, 19000. If it doesn't do a breakout most likely it will dip to the support.
Kommentar: Update:

First resistance hit, expect a potential drawback.
Kommentar: Update:

First resistance passed, 19000 in play.
Kommentar: Update:

Found minor support at 15800, too early to say if it will hold.
Kommentar: Update:

Sadly bitcoin is back in the triangle and the downtrend may continue , if you had diversified your portfolio and have usd, putting buy orders at 12650 would be a good move. (It may not reach 12k , but the buy order would make you get cheap btc)
back in the traingle and therefore at about 15.5 k roughly ?
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DreamBlood scousertommy
@scousertommy, for btc to be back in the triangle it would need to be under the red line.
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been moving down since this idea was on , well the more it corrects the better the alts i guess and i am noticing that are holding on better to btc's flactuations
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broke support and going down?
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DreamBlood grechkaman
@grechkaman, if btc will go back in the triangle, then the downtrend will continue, while it is above it, it will grow back to 16400 and reach 19k.
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still close to previous resistance of 16,400 $ to know where it is heading right ?
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