Bitcoin Issues a Buy Signal on the Daily Chart

BitsPlan

Bitcoin has indicated that it intends to break through the 3rd arc resistance we have been watching on these pages for the past several weeks.  Barring an unexpected intraday reversal, we will get a close above the arc today.  The implications of this can hardly be overstated.  It means we will most likely be getting a buy signal on a long-term daily chart.  I believe we are about to witness a thrilling few weeks.

1130a1130aIt is well worth noting that the resistance breakthrough came EXACTLY, to the day, 90 degrees after the rally of Sept 2.  We have been watching this date for well over a week, and it turned out that it was the very day the breakthrough came.

4th arc resistance is quite high.  It is over $1,000.  There is strong resistance on the shorter-term setup ~ $850.  So it is highly likely there will be a pullback there.  But imho we are likely going to

Read more ... source: CryptoCoinsNews