Trendline from pre-parabolic gap up, to reversal breakaway.

2 янв. 2014 г.

I've drawn a trendline from the bottom of the gap up in trading on this time period where the bid crossed up over the ask. Traders then retraced below that gap up, and filled that gap with an aggressive rally, and they did that again, filled it twice, re-confirmed the filling of the gap with rally. So we see a runaway gap up at that point.

This second gap up which has occurred in the middle of the reversal since the $9.119 low, with all alts rallying in sympathy with one another on btc-e, LTC leading the meat of that rally, during this gap up, and inspiring BTC to rally, and all of this, the gap up, LTC leading rally of alts that then inspires a rally in BTC, is rare stuff in the charts, not textbook, but certainly it is "Crypto".

So this trendline between these rare, gap ups, the second being a "breakaway gap up", where we break out of a highly compressed trading range, in a uptrending channel we have been observing, and ... breaking away from the bottom of that channel, this is all fairly bullish, as we see from the trendline between the two gaps up, it's the same freakin' channel we've been in, I'm long to ron's targets.