I have been out a few days due to the holidays, but I'm back and see that the lines and predictions still hold.
The blue line is still intact and it is becoming much stronger.
I mentioned that any playing around the blue line is an alarm to Buy Bitcoin and I still think this holds. At these prices I will place and order myself through CoinBase.
At this point we are getting positive SAR points which indicates positive move. If you can risk a little I would buy right here right now. If you are looking for buying Bitcoin to use it for purchasing goods, then I would suggest to wait to see how the price resolves in the next day or so.
Do you remember the Red Line? and how I predicted a huge price action on December 12th, well that did happened exactly on that day and Bitcoin crushed that support level (Thumb down icon in the chart) and now it finds itself testing the long time support, the Blue Line.
In the hour chart, you can see how clearly Bitcoin price has been crushed in every attempt to send prices higher. Someone is unloading big and someone really wants Bitcoin price at these levels or lower. But the fact that Bitcoin finds strong buyers picking up the cheap coins lead me to believe there is very strong support. And the coins are leaving the weak hands for stronger long term hands which is good for the whole bitcoin ecosystem.
The blue line is still intact and it is becoming much stronger.
I mentioned that any playing around the blue line is an alarm to Buy Bitcoin and I still think this holds. At these prices I will place and order myself through CoinBase.
At this point we are getting positive SAR points which indicates positive move. If you can risk a little I would buy right here right now. If you are looking for buying Bitcoin to use it for purchasing goods, then I would suggest to wait to see how the price resolves in the next day or so.
Do you remember the Red Line? and how I predicted a huge price action on December 12th, well that did happened exactly on that day and Bitcoin crushed that support level (Thumb down icon in the chart) and now it finds itself testing the long time support, the Blue Line.
In the hour chart, you can see how clearly Bitcoin price has been crushed in every attempt to send prices higher. Someone is unloading big and someone really wants Bitcoin price at these levels or lower. But the fact that Bitcoin finds strong buyers picking up the cheap coins lead me to believe there is very strong support. And the coins are leaving the weak hands for stronger long term hands which is good for the whole bitcoin ecosystem.