Long Term Update

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I don’t have much to say since my last update, this market remains confined in a price zone defined by my VWAP (computed using 2 months) and its first deviation line, why? probably because of the bearish indication from the daily ALMA moving average that i pointed out in the previous update (since then XBT/USD failed to make new highs above $400); average that is now slightly bullish after a VWAP test last 21 November at $350.
In the last month we have seen a sequence of three higher lows suggesting an underlying effort to go up with a possible target for December of $420, while support is always around my short term VWAP ($350).

The weekly ALMA moving average is now flat after more then 5 bearish months, it’s an improvement but not enough to confirm a long term reversal, we need patience but at least XBT/USD is trying to build a base for a bullish 2015.

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3 thoughts on “Long Term Update

  1. Arthur

    Thanks Enky, sounds spot on to me. My guts feeling says only late Q1 or in Q2 of 2015 we will see new ATHs.

  2. robinerd

    Thanks for this, it’s always great to hear your insights and see your technical indicators. I have once again started to follow both btc and your blog/Twitter, hoping for a new bullish trend. I’ve already bought btc again partly, but still waiting for a clearer indication before longing my margins on bitfinex. Thanks again for your updates!

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