Hey bitcoiners:
I came from reddit btc market. I found out about this forum from there!. I traded stocks and futures for about 6 years and have recently gotten a huge interest in BTC. I 've recently created a blog with a focus on chart patterns and statistics. This is my first post!! I will unveil more patterns and TA in coming posts. Don't want to overwhelm u guys.
Here are my targets, 610 usd/btc and 700. Look at the chart below:
I say 610 dollars because there is a lot of overhead resistance at this level. In addition, there is a confluence point with the measured move chart pattern. For our 2nd target, 700 dollar is the top end of the resistance and hence is a good indication of where we might stop in the short term.
If you are interested in my analysis. You can visit my bitcoin technical analysis blog.
Please let me know what you guys want to see and I will do a post in the future about it.
fellow bitcoiner.
I came from reddit btc market. I found out about this forum from there!. I traded stocks and futures for about 6 years and have recently gotten a huge interest in BTC. I 've recently created a blog with a focus on chart patterns and statistics. This is my first post!! I will unveil more patterns and TA in coming posts. Don't want to overwhelm u guys.
Here are my targets, 610 usd/btc and 700. Look at the chart below:
I say 610 dollars because there is a lot of overhead resistance at this level. In addition, there is a confluence point with the measured move chart pattern. For our 2nd target, 700 dollar is the top end of the resistance and hence is a good indication of where we might stop in the short term.
If you are interested in my analysis. You can visit my bitcoin technical analysis blog.
Please let me know what you guys want to see and I will do a post in the future about it.
fellow bitcoiner.
Can you explain why 610 and not 600 though? Wouldn't the 100 mark (in this case 600) be more of a mental blocker?
Wow, lots of questions, I will try to answer them the best I can. You can clearly see that prior supports are at 610 dollars, now its resistance at 610. In addition, my measured move also is around 615-610 area. So that is it. What you say is true though, round numbers are mental blockers, but they are very short term.
So what you're basically saying is that 600 and 700 will likely pose some resistance (short-term) and that 610 and 710 will be the medium-term resistances that need to be broken through?
