...no bears were hurt in the making of this chart.
Komen
⋅
50 MA has no relevance on the monthly so u can simply ignore it, i forgot to remove it but don't feel like republishing : )
Komen
⋅
Daily chart:
Komen
⋅
Komen
⋅
Hourly chart...last hope before new yearly lows incoming. Let's see if it plays out.
Komen
⋅
Komen
⋅
Komen
⋅
4h breakout, and retest of support into the 50/100 potential cross. If it does not hold another leg down is in the works but I think it should.
Komen
⋅
4h chart.I know everyone wants 64XX-65xx but the green rectangle (an advanced method of support and resistance I developed using rectangle boxes) seems like the logical place to bounce. 50 MA and weekly open agree. Would also form a higher low for hidden bull https://divergence.https://www.tradingview.com/x/RzPZFDdp/
Komen
⋅
If we can get back above 7k here thats enough to create hidden bullish divergence...
Komen
⋅
Komen
⋅
100 MA now being tested…since the correction took a bit longer it has moved up and holding would create hidden bull divergence, so the green rectangle might be wishful thinking.
OMG, this is the best thing on tradingview. there was a bull div in 2013-2014 as well
ltc-joe
⋅
@cryptoneur, OMG...ya i'm well aware. Feel free read my response to someone else who also brought this up. Just because a bullish signal happened in 2014 that does not make it a bearish signal, I
would argue it's even more presumptuous to assume things will play out in the exact same manner. But time will tell, always open to all possibilities and my opinion can evolve over time. Thanks for your comment I guess.
cryptoneur
⋅
@btc_joe, im not bearish, im bullish, the bull div in 13/14 started a bull run
ltc-joe
⋅
@cryptoneur, oh haha my b, so many trolls on here I tend to prematurely snap at people. Thought u were being sarcastic : )
nomisl
⋅
I've seen something similar and I would love for that bull flag to be true...but doesn't a similar pattern (bull flag and RSI divergence) occur at the end of 2013 as well?...The main difference I see is that back then there was a massive Mt Gox issue whereas now we could argue that theres more positive news like potential ETF. Would you have any other reasons? Thanks
ltc-joe
⋅
@SaimanLi, Yes it's true the conditions were similar. Bullish signals do not always play out, anything is always possible in this game, as you mentioned it took a catalyst to completely reverse the market and enter us int a long and grueling bear market. That is always possible but I tend to think it will not play out in such a similar fashion this time around as many seem to be expecting. I'm just not sure (given bitcoin will succeed in the way we all think it will) that everyone will get yet another chance to accumulate bitcoin at ultra low prices before another huge bull market, usually markets are not that accommodating. But we shall see.
nomisl
⋅
@btc_joe, Yes I agree with the accumulating BTC at "low prices"...I mean even if in the "unfortunate" event that if you bought now and it suddenly took a downturn to say 3k...thats only a "temporary" loss of about 65%+...but in the longer run I'm quite sure it will make more than 65% profit...even if it went to last ATH of 20k thats a good 150%..not to mention that if it does turn out to be a bull flag then it should sure make more than 150%. I hope you are right though. Lets see :)