[BTC/USD] - Time to put on your bear goggles

16. Jan. 2018

BTC is rubbing up against the bottom of the pitchfork that has defined the trend for months now. If it closes below and successfully breaks the bull trend, we could see BTC dropping as far as mid 8k range where the EMA rests alongside the 0.236 fib retracement. If the pitchfork holds, expect a return to the mean with an eventual rally to upper 20ks or 30k+

i.e. hold on to your butts

17. Jan. 2018

Anmerkung

The pitchfork is invalidated. Here is a new one which I believe captures the trend more accurately:

17. Jan. 2018

Anmerkung

I'm calling bottom here

20. Jan. 2018

Anmerkung

Bottom held. Watch for these zones of support/resistance moving forward.

23. Jan. 2018

Anmerkung

Double bottom forming, watch for breakout when price climbs back to resistance.

26. Jan. 2018

Anmerkung

Double bottom didn't play out quite as expected. Expect a big move when this triangle breaks though - be ready!

30. Jan. 2018

Anmerkung

Overall, not looking great at the moment - we could be heading for the bottom of the pitchfork at around 6.5k. However there is a case for a bullish three drives pattern which I've outlined here:

7. Feb. 2018

Anmerkung

We dipped lower than I anticipated but the January pitchfork is, miraculously, still intact.