Bitcoin Price Weekly Update

Bitcoin Price Weekly Update

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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 thoughts each day, I will tend to reach conclusions as to probable future events, tentatively at least.  Anyone who took a basic charting course can report on what ALREADY happened.  Such a simple report might say: “[The asset in question] found support on the 100-day moving average, but then stalled at the 50% retracement from the previous high.”  News on financial TV reports like this every day.  “Stocks fell today on news of blah blah

Read more ... source: TheBitcoinNews

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