BTCUSD now moving in uptrend blue channel. But I see red triangle in this channel. triangle - undefined figure. If we break out support line of the channel we will go to 8200 area first.
BTC correction isnt complete, new lows will be seen. Yes we have alot more firms "looking" at getting in, but they not in yet, WHY?... not untill its driven right down and there is great value ie 88fib. We need to see a new low wave structure before its complete (yes under 6k). Poloniex has been purchased by one of the major US banks. Some of the major banks got in at 2300USD on BTC, does it seem like a bit of a setup? Drive it down till people sh..!! themselves and just sit there waiting to collect them via Poloniex?? Conspiracy theory or not, seems like a p[erfect plan. Then we will see the big money come in, not now. I still see BTC not reversing untill 2500-4k area. I expect then to see a MASSIVE push up for the bull run. Thats my view anyway.
J_bank
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@joe2411, hard to believe a crash happening when everyone is expecting it... still bullish divergence
PaulMir
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@J_bank, @IkemenJ on the 15min chart the divergence is now very obvious on the support line :
PaulMir
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FYI on the last DIP @ 7250, huge price/rsi divergence on the 1H chart. Since some weeks now price/rsi divergence has proven great results...
FerdiHodler
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repeating same pattern
UnknownUnicorn1780802
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@bionicol, double bear flag
damdamm
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500 $ correction and weak bulls talk bear's voice.. What will be when BTC will be at 100k level and correction will be like 5-7k during day or hour... People if you panic, panic with open minds.. :) Normal thing Price action goes UP and must correct.. When go down also is correcting.. And big players are not so stupid to kill teen chicken's golden balls.. If they will lead down or sideways for too long they will kill themeselves cause instead of cheat street Josh's on massive scale they will have to cheat themselves BIG vs BIG.. and this is also game scenario but as a scenario no2. I mean why to throw out good orange if you can squeeze a lot of juice from it and drink it ?
KISStheProfit
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@damdamm, 100 000? You must be kidding me! BTC is slowly going to grave. Why? EVERY tech becomes obsolete for a maximum of 20 years, and is replaced with something better, and usually after the 10-th year it becomes cheaper and cheaper year after year.
GoteGuru
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@KISStheProfit, BTC is not a tech. The tech behind id worth much much less.
vntexuser
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@GoteGuru, Absolutely right ;) Old tech might die, but the idea behind it leads to even better innovation.