On track [preferred]


On track

agreed

me too (doing opposite)

Keep an eye on the Japanese yen and the many yen carry trades to help gauge risk-sentiment. Unless these begin unwinding, equity markets are probably heading higher. Remember, "markets can remain irrational longer than you can remain solvent." (Keynes)

But yes, I could easily see a reversal sooner rather than later. It would make sense after the monster run from this past winter.

for the same reason markets are crap on September

Lucif,

So, the symmetrical triangle breaks down in 1.5 or so weeks? Well, the problem with this type of forecasting, is that we are living in a world where currencies are collapsing, wars are in the wings, gold is being suppressed (paper naked shorts, "leasing" of reserves by Bullion banks,etc. ), and just a lot of uncertainty in general.

Now, I'm not saying you are wrong. But, the reason BTC is even where it is at is because of the global uncertainty. And yes, I use TA as well, but if we put too much reliance on it, then when news hits, BOOM - one way or the other. If another Cypress like event happens (and it will, just a matter of time, weeks, maybe months) then the price of BTC will break through past highs (which was probably driven by Cypress in large part).

Again, I'm not knocking the chart analysis, but just want to point out that anything longer than extremely short term predictions in this market is risky.

I almost feel like we need to have a strong hold of BTC that we just don't touch and then another "flexible hold" that we can try to trade with, with the intention of increasing.

But, I will keep an eye on that triangle! Thx,
IAS

Lucif "always" bets on red. 

Think it's in the name? 

Ok, thanks for the explanation !

i see the massive triangle consolidation pattern, but if you 'zoom out' it looks more like a bullish wedge. would you say an upwards breakout is possible?