SUMMARY
Note:
I'm on the road so short summary. Video has more details.
Overnight, price has delivered the buds of an early breakout above the blue long term resistance (white circle). It's important to understand that the seller strength is totally sapped after giving their mightiest efforts to kill Bitcoin. It's also important to understand the role of the short coverings will have in this rally. As the seller strength was sapped, the population of short sellers have increased proportionately. Their short covering or buy to cover actions should add fuel to this breakout. What's next? Price needs to stay above the blue line to rise higher to make the breakout decisive.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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People sold at 6k to buy back at 3k. Looooool
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Thanx for research :-)
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Agree, if we close today above the daily trend line, I believe price will test the sellers at $8500 next.
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analysts have so far mispredicted.. since they were expecting something massive on or after tax day.
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Finally we are seeing less sideways action and something that resembles the start to a bullish run! Fingers crossed for a close today above 8k! Second half of 2018 here we come! :)
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It's going sideways today. Let's see what happens in the next couple days.
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Yes it has been going sideways today, and I think we go down before we go up more as I explain here: https://steemit.com/bitcoin/@investingtips/bitcoin-distribution-spotted-time-to-short
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It feels like the tide may be turning. Exciting!
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Lovely post here love it. I am very happy to read your post. Appreciate this real words. Follow you and resteem this post.
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The next few days will tell the truth of whether this is a bull run or not. Usually the price drops on the weekend, following a significant rise. If the bulls can hold off the bears and bad news of millions of dollars of missing bitcoin, another bull run is more probable. But, for now, I remain cautious. After all, most of the institutional investors, millionaires, and billionaires want security. They don't want hackers and mistakes from crypto exchanges to cause them to lose millions in an instant.
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Interesting article and very informative, thanks for sharing. I've smashed the upvote button for you!
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As usual, very insightful analysis Haejin. I wonder, do you look at LOG scale at all? Does it bother you bitcoin hasn't yet broken out of the descending triangle on the LOG scale chart? I cover that and more here:
https://steemit.com/cryptocurrency/@workin2005/bitcoin-confirms-bullish-breakout-small-correction-before-next-wave-up
Would love to get your expert thoughts. Thanks...and keep up the great work.
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YES! Thanks!
Bullish if break above $9200
or
Bear breakdown to test $7900
POE announces plugin for wordpress. IT IS MOONING!
XRP on a strong ride third ride up!
Bitcoin Private 24 hour increase 96% on some exchanges
Exciting time!
Horses for Everyone!
Cheers, @fieldsof gold
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Finally we are less compact and less of a bullish start! Today, in the second half of 2018 we are coming! :
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friends this telegram pump group is very successful. I would recommend https://t.me/rocketpumptrader
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I hope we can see soon a second Bullrun up to the high 8000's, it would give the Market even more confidence to mark a major Trend reversal!
Ty for the Update even tho you are on the Road :)
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Thank you master.
how do you see this guys?
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Do you like Steem coin ?
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Am watching BTC market with eagle ear to determine whether this uptrend is really a bull run or a bull trap , that is the reason am still holding my fiat currency. I am anticipating that the price will continue to go up.
PLEASE! PLEASE!! , it is not in my culture to beg people to check or upvote my post but there is a saying in my place that goes like this IT IS CONDITION THAT MADE CRAYFISH BEND. Please try check this post IT IS A MATTER OF LIFE
https://steemit.com/help/@steemfirst/oh-god-help-me
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Beware of over the counter sales of BTC to big business. Circle investing and the Winklesvoss twins are selling bitcoin by the billions and the volume doesn't show on exchanges! There alot going on in the undercurrent....
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Wait for a breakout on 60min time frame to give an indication of short term trend. BTC is within a larger range, but is great for swing trading the alts (e.g. POWR now).
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A small piercing on this chart but on log scale, we have a ways to go yet. There's one you may want to cover looks like is breaking out CVC, and Binance is trying to break out as well, stuck at $13 now.
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Thanx for research
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This looks like a bull season coming! :)
I think these 2 prices could also be key points to confirm a market rebound to bull market (if broken):
1- EMA 55: $8,457
2- Fib 0.236 Retracement: $9,174
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Your post is very good!
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When you copy/paste or repeatedly type the same comments you could be mistaken for a bot.
Tips to avoid being flagged
Thank You! ⚜
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Excelente
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