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Author Topic: Trend reversal proposition  (Read 176 times)
arpon11
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May 11, 2018, 06:33:17 AM
 #21

I pray this your analysis come to pass as I have set my taking profits at $11,000 and to rebuy when price pull back to $750. I think we are currently at the ranging trend and this ranging trend may last tell July before it can break out of the current channel.  I have bought in some level higher than were price is and praying for the market to push up very fast.

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BillCoin
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May 11, 2018, 09:26:03 AM
 #22

Looks like at the moment we entered a negative trend.
If you were looking on a 1-week chart(candle), you would be seeing that the global trend was uptrend as bitcoin fixed it's price from 6000$ to about 9.7K, but now it is back on going down( 1-day candle), as it looks like the main trend is negative.
I think that we will need something/news to increase the hype level and to return into the positive zone.

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May 11, 2018, 09:59:22 AM
 #23

Just another bounce on the way down

jadenunderhill
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May 11, 2018, 10:11:21 AM
 #24

I'm sure that we will see 20K. Or even 50K. We must only wait for 2030.  Good luck!
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May 11, 2018, 10:19:51 AM
 #25

I'm sure that we will see 20K. Or even 50K. We must only wait for 2030.  Good luck!
Of course! 2050!
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May 11, 2018, 12:18:10 PM
 #26

Looks like at the moment we entered a negative trend.
If you were looking on a 1-week chart(candle), you would be seeing that the global trend was uptrend as bitcoin fixed it's price from 6000$ to about 9.7K, but now it is back on going down( 1-day candle), as it looks like the main trend is negative.
I think that we will need something/news to increase the hype level and to return into the positive zone.


I would say let's wait and see if we bounce from the diagonal trendline which we broke to the upside about 2 weeks ago. This could just a the pullback some were already waiting for.
If we find support around the $7800 level the diagonal would hold and we would build a higher low from the previous 6k low.
But I agree this setback isn't that great for the actual market sentiment.
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