IMHO this weekend we must see a pump in BTC if we don't want to go South... EDIT: BTW I closed my longs yesterday and gave 2/3 of my budget for sure money (swaps). The rest are ready for the next signal..
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I am out of base so I can't reach my tools & charts but if we take hitbtc at TV (not very represantative but does the trick): Double top failure at about 0.0034. Also at 0.005. At 0.003 though we have a breakout plus breaking 2 resistances so it is a nice buy signal. But not much profit up to 0.0035 where I expect an horizontal tough resistance (double top failure) EDIT: Also the setup was very bearish, triple bottom break and then another double bottom (which led to lower lows formation too). Α buy signal after this maybe a bull trap, so I would wait at least for 2 more Xs so we clear resistances and minimize the chances of a trap (more easy to get traped with only 1 box movement after a breakout/breakdown, usually if you wanna be more safe you wait for another box). Finally, there was no reason for me to buy at 0.0018 (catch the falling knife) but at 0.001 we have a nice double bottom.
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Klee, could you update us a bit about BTC, didn't see some charts and speculation from you since few days ago.
Thank you.
Smart money are accumulating at the bullish support (276$) while desperate bears and weak hands are doing the opposite. The last chart still holds, breakout at 300$ or doom below 270$. IMO if we go above 287 chances are we gonna test 300 again. Resistance is 288-296 and some mild one 282 - 284 286.
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I don't mind discussing this but this info should be copied elsewhere IMO because it will be lost.
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Also zerocash (if they ever deliver).
Zerocash hides everything but needs a trusted setup. I figured out how to hide everything that matters (more than Cryptonote hides) with no trusted setup and not relying on any new esoteric cryptography. Also zerocash has a problem in that it can't unwind from orphaned chains selectively, because you can't know which transactions are in the trail of which transactions. I have so many innovations it makes the head spin. The problem is nobody is helping me implement. Its insane.I should have clarified that I will invest only because of the hype, I am not impressed anymore by the solution! EDIT: This is a whole subject that needs discussion on it's own, you have to admit there are probably faults on your side too..
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Next year we will bottom and see the interest in private assets grow again, but it will be driven more by anti-government sentiment (due to expropriation in the EU) and thus anonymous coins will receive much more interest than Bitcoin.
Klee, out of curiosity, and by no means wanting to get out of subject, do you own any of this? No, not a long term investor. I will buy above 350K or between 120-155K for trading purposes. ATM is the 2nd best in town (1st is Zoidberg's BBR but not so successful for various reasons). I wait for someone to implement TPTB's proposal and I will invest long term. Also zerocash (if they ever deliver).
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Bought up to about 279.5$. Stop 270.
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GOLD/BTC PnF: Clearly sell GLD for BTC. Not exactly what you asked though Afrikoin.
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Ok, so as long as BTC is in a bullish trend, we have to find ways of increasing our BTC without risking losing them for USD. We can do this with alt pairs. So here is BTCLTC: We should be on LTC now and sell them when we reach the support at 61-62. If we double bottom break at 59 buy back LTC until next support at 54-55. Below 54 (especially <=50) we are in LTC! Target is double bottom at 30 (not visible here).
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We are in a bull market - bad news are ignored...
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Don't panic guys, I was just making sure my paper wallet are intact, promise not to scare you again
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No worries, post as you like...
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Still at 320$, it is remarkable how it bounced back in this resistance!
Eyeballing it, looks like $325 now. What will the line projection be in September? 320 but it could spike easily 5-10$ more. At August 31st is about 330$
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and IF we stay in the same column moving upwards (probably not gonna happen) 465$ (probably lower as we move to the right):
May I suggest we also redraw that long-term trend line from the inception of Bitcoin which was at $320, but will be at > $350 by September. Perhaps we will come back up to test that as resistance again? Could you draw it more accurately as you did last time? I don't have the necessary tools to draw it at my disposal. Unlike gold, Bitcoin already broke out its down channel from the $1100 high. Thus perhaps it is only the bullish long-term trend line that serves as resistance. I will try yes. One good way of seeing resistances is 1d zoomed out as much as possible (depending on your screen width, in order to see as much chart as possible) and watch where the previous CLOSE tops are (green peaks but not the spikes). There you have resistance. EDIT: So with this in mind, good resistances are 433, 654, 685, 918, 983, 1138.5
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Keep in mind everyone that CLOSE chart is still bearish...
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High/Low is 680-685$CLOSE is 320-325: and IF we stay in the same column moving upwards (probably not gonna happen) 465$ (probably lower as we move to the right):
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What is the next major resistance line above $320?
Wait..
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After the C&H, looks like there's a forming of a pennant, some more days to complete the triangle. What is needed for the kickstart you think?
Serious buy volume from a whale in order to break 320 for good and/or some bullish news. From a P&F PoV we just need to hit 300-304. Even if we fall back to 288-292 I expect a catapult to form which will be extremely bullish.
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