Bitcoin Bearish Short Term (ABCD Pattern)

BITSTAMP:BTCUSD   Bitcoin / Dollar
BTC has confirmed a bearish trend to follow an ABCD Pattern . I expect it to drop down to $8,000s mark. It will rise strongly from there. This correction was a strong one considering we had the Golden Cross Formation for the first time in almost 3 months. This correction was very much needed and it is healthy for Bitcoin to follow a regular pattern rather than a parabolic trip to the moon. I'm bullish on BTC for the long term but I am not buying anything before January 2018. It will continue to trade sideways, make sure you don't get caught up in any bull traps. Trade safe, guys. If you liked this analysis, please hit the thumbs up so I can continue to create more useful posts. Thank you :)
I like your thoughts.
fakhan bsinghontwiter
@bsinghontwiter, Thank you. Follow for timely updates :)
I think it will bounce from 10k, maybe flash cash to 9k. I put an order in at the 10.3k range. Do you think I should lower my buy order?
fakhan austinmfcoats
@austinmfcoats, At the moment it is signaling what I think is a false recovery. Let's wait and watch
Great job, I agree with you but don't think it's dropping to 8k, high 9k
fakhan hassanao1
@hassanao1, Maybe so, no one can predict exact numbers. All we can speculate about is a general trends or patterns.
9K is support ...8k chaos...
+1 Antworten
fakhan ghose12
@ghose12, I think it will be in the 8,000s. Could be close to 9k, why not.
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