This is the dawn of a new Bitcoin beginning. I hear the bears' margin calls of tomorrow calling. Don't believe me? Just watch!
The Bitcoin price is very low, but stabilizing and ready for a big uptrend starting above 1600 CNY. This major new rally begins in late February / early March 2015, when we finally break out of the long-term downtrend. Big green lines are yearly trend S1 / pivot prices.
Price climbing today means price will be stable tomorrow. That means your average lagging indicator will start to show an uptrend in two days. Which in turn means people are going to buy a lot in three days. This will mean we will break the triangle to the upside. Finally this means we will break out of the one year downtrend and therefore we will see a very big rally in March.
And also check out my recent Bitcoin price technical analysis from January 2015 with more green moon rockets from the bottom.
// Chart posted on February 19, 2015 around 3pm UTC, while the price was 1473 CNY (around 236 USD)
We could consider also that trenline has been already broken and we are sliding above (break-out on 12th Nov rally)
MoonTrader
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I dunno. Be careful. Just because it hasn't dropped yet, that doesn't mean it won't. I've made that mistake several times.
ChartArt
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My analysis is less based on "it hasn't dropped yet" and more on what the daily trend for tomorrow is, which is going to confirm the uptrend -- if it doesn't drop massively today on Chinese New Year.
BitcoinGuru
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this is a no trade zone. $5-10 move up or down doesn't mean were going to the moon :) . Don't let the market makers fool you. It's highly manipulated lately, shorts trying to get squeezed etc.
ChartArt
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Update: Wednesday, February 25, 2015
The trend is still strong. I expect a breakout at least beyond 1550 CNY - 1600 CNY until the end of this week.
KiwiOzbc
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Your triangle has a lot of room for more downside. 256 will see a retrace to around 240. Then we may see direction. Back above 260 from 240 & the Bulls can get excited.
rivet.popper
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I have been saying this for a month to anyone that will listen. The bears are slowly getting the picture: the only way to make money in BTC now is by going up.
ChartArt
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Yes, the price doesn't seem to go down anymore as usually, there are now always buyers in this $200 region. Here are my last bearish forecasts, both did not play out (whereas all my last bull forecasts did play out):