Bitcoin towards double bottom at 8K/7,5K, but first 10K

BITSTAMP:BTCUSD   Bitcoin / Đô la
Think Bitcoin             will follow this pattern, first it will make an attempt for the 10K and ater that it will probably fall out of this wedge to drop towards the previous low for a chance to make a double bottom . Now short term i think it will make a last small drop towards 8800 to rise up quickly towards the 10K
Bình luận: It's trying to turn up from the 9000 low. I think it will drop out and go towards the 8800
Bình luận: LTC, this move is what i mean, there is still much more buying interest in LTC than BTC since the low.
Bình luận: This flag confirmes my target around 8800
Bình luận: I have lowered ny stop to my entry level around 9150
Bình luận: It almost reached the 8800, it's probably already on its way towards to the 10K
Bình luận: Bitstamp chart (first chart is also from Bitstamp),
If it stays above the line we could be going towards the 9K highs
Bình luận:
Now it has dropped this short term uptrend. I am waiting this time, this sideways action can be tricky. I am waiting for a better moment later today,
Bình luận: And again the sideways action is fooling most. Looked like it was really turning up and ready to break out upwards, npw it's at the 8800 and looking to drop further. I am still flat and waiting. If i missed than i missed :) Cant have them all
Bình luận: Other exchanges have dropped below the uptrend support line, Bitfinex just bounced off it. I am still flat and will stay the rest of the day i think. I dont think they will let it go, but thats based on a (gut)feeling, nothing more actually :)
Bình luận: For the bears i would say, watch this read area, downwards breakout level, should be resistance now
Bình luận: Back home again, so I completely missed this drop. I really thought it would make one more upswing, like a fake breakout upwards. For now it did exactly what I thought, drop to make a double bottom. When I started this idea, I thought it would go up again after the double bottom, but since it did not even get above the 9500, the weakness is even worse than I thought! This could get very very ugly for the bulls. There is no telling to where this could go the coming weeks/months. I thought a quick drop to 5k would be to much, but now? It could be done easily. But I am not getting in the market now, maybe short is if it rallies back up towards 8800. There is no bounce here, so big chance it drops even further. It’s alle guessing now
Bình luận: Looks like it will break this short term downtrend
Bình luận: Broke out upwards, now it should stay above the 8200
Bình luận: I closed half with 230 points profit, just to sure, sto for the rest at entry level
Bình luận: I am jumping back in around 8310 with the half i closed, all with a stop at 8150
Bình luận: Why did i re enter at the level of 8310? There was a little fight at that level a few minutes ago, so i assumed it would find some support there, ofcourse a small guess, but still based on something as you can see.
Bình luận: I think these 2 options are possible now. Go towards the 8600 where there is some resistance and drop down again towards the low of today. Or it makes a bigger H&S and breaks through to go towards the 9K again. It is making a bullish flag now. It should stay above the 8200!
Bình luận: Last support
Bình luận: It's taking to long
Bình luận: I am out at 9270
Bình luận: Like i said before, it was taking to long, therefore i closed the remaining with a small profit. Now i will probably make another attempt somewhere around the 8100/8120
Bình luận:
Bình luận: 8100 it is, stop just below 8000
Bình luận: Lowest green area is my stop now
Bình luận: Stop at 9740 now, close one
Bình luận: Its making a flag, not looking good!!
Bình luận: Lets see if it can get above that resistance line again
Bình luận: I have closed half at a bit above even money. Got a bad feeling, seems to be making a flag
Bình luận: I am out, minimizing the loss
Bình luận: could be making a very nice double bottom here.
Bình luận: i think one more drop towards the 7850, i will go long around that level
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thank you once again! :)
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When you said stop at 9740 now and close one, does that mean buy or sell? Kinda confused lol. Thanks.
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botje11 vspectra
@vspectra, I bought at 8100, 9740 is my stop
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vspectra botje11
@botje11, Ah, I'm stupid. For some reason I thought 9740 said 7940. lol. Thanks man.
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jackb85 botje11
@botje11, You must mean 7940 stop?
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botje11 jackb85
@jackb85, hahaha yes, i dont sleep enough because of these markets :)
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up or down ... 50/50 change
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botje11 MrNarmerk
@MrNarmerk, At the moment short term, up is a bigger chance, turning point is around 8200
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Thanks for your updating!
So, do you think it will go diper than we expected?
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@TeoGG, Unless something big changes on the short term, for now the chances for breaking the low at 7500 are much bigger now. There is one bullish option! If BTC could go towards the 9500 and break it with volume, than it could go towards the 11K. But only to (probably) turn downwards from there. For now it should break the 8600, otherwise we make new lows coming days
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