Time has expired for Bitcoin to decline and the price "failed" to drop to the suggested targets. It looks as if Bitcoin has upside to rally back to the previous mode in the next 9 months.
Look at the previous forecasts on Bitcoin to see how these trade setups have done and how they worked. Lately the methodology has been a little choppy after working so perfectly for so long.
436 upside potential (~ +80%) 196 stop loss (~ -20%) 4:1 reward/risk ratio
Tim
交易结束：到达目标
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Anything over $436 was a bonus - $502 was the high.
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Thanks for re-viewing this long term idea from a year ago. The monthly time frame is a solid time frame from which to view the trend of Bitcoin, even though Bitstamp is not the dominant market for Bitcoin.
It's great to see low risk, high return trades pan out using the logical construct of "Time At Mode".
Tim November 1, 2016
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Here's my update as of Nov 17, 2016 8:15AM EST
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timwest
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After a nice pullback from the high at 500, Bitcoin is setting up for another buy here. Using the 4 hour time frame, it has an entry signal here today at the close 11/16/2015 (Iong)
noto1235
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just bought :) thanks where do u see the top from here ? keep us updated please
IvanLabrie
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Long has turned into a triangle. This is awfully common.
I think next move is down. (Posted daily)
BitcoinGuru
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I still think sideways and up by friday
IvanLabrie
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It's unclear.We'll see.
Trade what you see by then.
timwest
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I could add that the big red bars you see during the last 9 months both failed to have 'follow through' bars. You can see last month merely tested the lowest half of the January decline and now the market is above the mid-point of last month's range. If Bitcoin were trying to go down, it wouldn't be acting this strong. I can conclude that because it has failed to drop, that it is strong. It might not rally, but for now that is the right way to look at it, from a trader's perspective.
BitcoinGuru
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It is clear that some big institution or group is holding this up Tim i mean 4H RSI is overbought been 3 days now which is ridiculous. without those big players drawing wtv picture they want, wed be at $68 by now since other than their $$, no new money from new adopters is coming in Bitcoin. I am very skeptical about $300-400. Look what happened last time or past 3x when they tried pumping to 315, anything above that is unsustainable unless they are heavily loaded on cash to make it happen + Willy 3.0 bot?
babad00k
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Hi Tim, thanks for posting this. My question is whether on a shorter timeframe we can expect some pullback that we can wait for to get a better long entry?
timwest
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I'll work on a shorter term analysis and see what I can come up with.
Phoenix1969
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Are you including the Bitcoin network attack due Thursday at 10am GMT in your forecast?
Otherwise, I would agree... but drama usually spells a downward push on Bitcoin.
I look for May to be the time to go long, 90 days before the block reward halving.