Two charts on price action

Lots and lots of messages. “10k this time?”, the usual. Fear to max. There are many many traders and investors alike sitting on the sidelines waiting for lower price action. They missed out on the move from 15k and now want vindication on the narrative sold to them by the internet's finest, a crash to 10k is coming.

Well that's not going to happen.

A trend reversal is confirmed. As a result this rally has earned the label "the most hated rally in Bitcoin's history".

On the above 10-day chart there’s a patten forming, can you see it? Real simple.

The 2nd 10-chart below. Same as above just zoomed in. When price action enters an uptrend (it has) support on the golden ratio is found. Look left. In previous bull markets every pull back throughout history of this asset, boing, the 0.618. This only happens WHEN price action has confirmed support on the 21-week SMA (it has - yellow line, remember this is 10-day not weekly).

Feel better now?

Over and out,
Ww


Today

2017

Komentar:

Nothing to see here...

"Trump calls for US debt default in absence of ‘massive’ spending cuts"

source: www.ft.com/content/b...16-aa01-6e41f5acdc70

Yeah, today's news. People of America... I say go for it, show the world how you can be. News is real boring lately.

Komentar:

source: www.ft.com/content/b...16-aa01-6e41f5acdc70

Trading ditutup secara manual:

Resistance has now broken on the weekly, 10-day, and 2-week charts. Even the most bearish among us is going to have difficulties calling for a retest of the base let alone lower lows.