weekly indicators show similarity with 2011 bottom.
* 20 MA - 40 MA -50 MA projected lines suggests A GOLDEN CROSS between November and end December period
* Weekly Macd cross indicates a trend reversal as it happend only in 2011 and in the 2015 bottom period.
*Note that 40 MA weekly coincided with 200 MA daily in 2011 bounce and acted as strong selling level
*Today the 200 MA is just between the the 40 MA - 50 MA weekly ..signalings a strong selling zone at 8600$-9200$ levels
* after retracing from the above mentioned levels and based on the moving averages an accumlation period between 7500$ -9000$ would be in play till the GOLDEN CROSS ..this accumulation level is also where daily moving averages align horizontally
* PLEASE NOTE THAT THIS IS NOT A TRADING ADVICE AND ONLY AN IDEA FOR EDUCATIONAL PURPOSE*
* 20 MA - 40 MA -50 MA projected lines suggests A GOLDEN CROSS between November and end December period
* Weekly Macd cross indicates a trend reversal as it happend only in 2011 and in the 2015 bottom period.
*Note that 40 MA weekly coincided with 200 MA daily in 2011 bounce and acted as strong selling level
*Today the 200 MA is just between the the 40 MA - 50 MA weekly ..signalings a strong selling zone at 8600$-9200$ levels
* after retracing from the above mentioned levels and based on the moving averages an accumlation period between 7500$ -9000$ would be in play till the GOLDEN CROSS ..this accumulation level is also where daily moving averages align horizontally
* PLEASE NOTE THAT THIS IS NOT A TRADING ADVICE AND ONLY AN IDEA FOR EDUCATIONAL PURPOSE*
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2013 bottom --->bounce --> accumulate -->moon ! fractal
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vs 2015
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vs 2011 weekly
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Broken Triangle target 50 DMA !
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Waiting for London !
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incoming retest !
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6900$ reached ! next please
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challenging 200 MA and the trendline from january
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Next ? challenging the neckline and the 50MA on weekly
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Bitfinex Shorts on the rise ! euphoric bearishness..check the Bitmex search in google trends to see the correllation between the shorts positions
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