Here is the weekly HL:



Still on buy mode (it updates at Sunday).

It has reversed at current price but HL gives priority to current trend until timeframe closes (Sunday 00:00 Polo time)

Before I try to explain (with EDIT) here is an update:



Double bottom!

I am posting and then will EDIT it.

EDIT:

So, first of all it is important to note that this is a CLOSE chart so the support/resistances may spike lower/higher respectively.

Now, closing 15m at 28 and below is a bearish catapult which is one of the strongest sell signals in P&F.
This combined with the 15 PO makes me think it is quite probable to have a sell off with a spike even at around 15 area.

But we will close probably around 26 support.

I hope this clarifies it.

Regarding fundamentals, I will not argue but I see now that for 15 it takes around 1.4m GAME to dump with one go (not very likely of course).

My question to you is: do you know ALL game whales with amounts like this? Are you 100% sure that they will not dump in case BTC breaks higher (very probable)?
Just asking, not provoking you.

See this horizontal green line at 26? It is the breakout price that acts as support - I am a buyer there!

EDIT: 29 has double support so it will be tough to break - it can happen though. So spread the bids at around 30 and 25 with ratios depending on your risk management.

Price Objective - http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:pnf_charts:pnf_vertical_count

It is not my estimation, the chart points there. Will it be met? I don't know.

My take is that we will retest 25 area.

EDIT: "Keep in mind that these Price Objectives are rough estimates based on P&F charting techniques. There is no guarantee that prices will reach the objective."

Pyramid bids 

Just to clarify, I am not saying it will dump but if it does then we have the above support areas.

$BTC buy zones in case of a dump/selloff:

A bearish catapult (0.00028) will probably take us to 0.00015 area (meeting the Price Objective from the O reversal column, after the failed triple top break -bulltrap?)


Meanwhile, BTC hit the 50% reversal (5386) from the recent spike at 5550 to the low at 5222 (okcoin).

So I expect at least 61.8-78.6% retrace.

Not really, it could be dead cat.

IMHO it is important to break 0.0125 for a valid reversal and then 0.015 is very strong resistance.

I am interested in Thanasis opinion on this..

Totally agree - if only TradingView supported Coindesk and/or Tradeblock indexes...

On the other hand, BTC-e has a catapult too (at 740$) which is still valid and it did not even reverse:




Situation at Stamp & BFX is different because they did not make a spread double top break (yet).

Catapult was the previous X column (triple top break, reversal, new breakout)

BTCCNY catapult at 5300? If so, yes it is disappointing and one of the reasons I think we topped short/medium term...

Bitcoin:





Bad news if we break 5000cny

I have a special offer for Cyber Monday that will be valid until Sunday:

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We go long here or if we close more than 15m at 5300+




Stop loss 5075 (Huobi):





EDIT: These are short term trades

Told ya to buy below 5000 and take profit 5200-5300 

Now catch the knife around 4700 with a stop at 4650. Buy both hands if it falls around 4000, stop 3850

Tips are welcome