In this monthly chart I have outlined the different support and resistance levels on the monthly chart for Kraken. I'm using this pair, since it appears to have real volume data and a more legit price action so to speak, unlike that of other exchanges with wash volume , rogue market maker activity and whatnot.
The target for the first monthly signal has been long reached, and part of that trade could be closed there (as signaled by the chart). I had shared monthly longs to capture this movement before, but for btccny1.00% at btcchina and also bitstamp . Currently the trend is up and we have more and more evidence of continued strength. As long as price is supported above 324-354, it'll be more and more probable to see further continuation.
I will update this chart when we get a new monthly long signal, with a defined entry, exit and stop loss. Potential targets are on chart and also the target for the currently active trend in pink.
If interested, I'm running a Bitcoin trading signals group, contact me for more information to join.
Cheers,
Ivan.
Komen
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USDCNH, A shares and BTCCNY. Seems like the Bitcoin rally will continue strong.
Komen
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12 month mode above and below. I think we might have a chance at a long term uptrend continuation trade tomorrow. Posting a new chart.
Hi Ivan. How does this work as a long if it overlaps over the same time frame that Tim West is short? I believe he is still bearish for at least a few more weeks.
IvanLabrie
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The short is the view generated from the weekly chart a couple weeks back.
Now the situation is about to change and the weekly downtrend might show weakness.
rivet.popper
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So we're back to Moonride?
IvanLabrie
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Quite possibly...at least, I'll attempt a long.
rivet.popper
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Is there any way for you to post an update-able chart for this, with that funky play button? Just want something I can return to and watch develop. Many thanks for your work.
IvanLabrie
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zjl
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So...Long?
IvanLabrie
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Yes, it's a long term uptrend.
I'm in BTC, just allocate enough of your portfolio on it.
I will give a safe entry signal soon, wait for my signal to buy.
Trade_Maker
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Hey Ivan,
Will you give your entry signal for bitcoin, Right here
IvanLabrie
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I reserve most signals to my private group but I will update this one in a timely manner.