Bitcoin Price Weekly Update
Long-time readers of CCN may remember me. I was a technical analyst in 2014 reporting on Bitcoin price from a traders’ perspective. I believe many readers will find my analysis a bit different from those of other technical analysts. While I am familiar with the indicators used by many traders, I rely on geometry first and foremost, as well as other more esoteric indicators. This will likely seem strange to traders who have never considered geometry a trade-able tool in the markets. (My thanks to Eduardo Altmann of Gunner24, who taught me the value of geometry in trading.) When writing my....
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The Asian morning session has pulled the Bitcoin price below the weekly pivot level at $476. The question is what the European and US trading sessions will do with today's chart. If the market wants to take a stab at the $412 target, then today presents that opportunity. With each downtick, the conditions increasingly favor a price-rocket ignition spark. Update 17 Sept 13h15 UTC. Just to correct the BTC-e chart from the last update below. I had drawn the Fib Extension tool to show a target at $455 - which was a reaction level - but more correctly the wave target was at $452 as shown in....
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