Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
There is a large triangle formed during the last 4 weeks, it should break one way or another in less than a week.
If it will break up, it won't go far IMO, but could form the wave 1 of a new rally.
But if it will go up nicely, close to 750$, then correct, then this would be very bullish IMO.
If it will break up, it won't go far IMO, but could form the wave 1 of a new rally.
But if it will go up nicely, close to 750$, then correct, then this would be very bullish IMO.
Did you hit your head, Tzupy?
You are coming off as a bit more bullish than usual.
Getting anywhere near the $700s would be a nice little treat for us "hanging in there" for the past couple of months, including the early August crash.
No, I didn't sustain any head or other injury. But it's nice of you not to accuse me of selling my account to some permabull...
I didn't say that it will break up, although I lean that way. I suspect that most of Chinese pump money is still on exchanges and could be put to use soon.
While it won't break the 790$ of June, a near future bullish development could strengthen the case for a larger bullish scenario.
Yes... You tend to make some decent analyses, even for an admitted bear. Some of the matter can be 20/20 hindsight, too, but many folks who have been watching bitcoin recognize the overall upward trend that got interrupted by a needed correction that was likely exacerbated somewhat by bitfinex... then if the corrections had already been down and had already been fairly decent, then there remains other bullish dynamics, such as the halvening and the progress of seg wit etc... that give fuel for a potential pump that could end up overshooting $790 or otherwise becoming much more bullish than we had considered to be within the cards.