bshgeo

BITCOIN - UPDATED CHART jAN.12.2018

BITSTAMP:BTCUSD   Bitcoin / Dollar
BTC             IS COUNTING LESSER WAVE #2 OF 5 DOWN TO COMPLETE THE LARGER "C" CORRECTIVE WAVE. EXPECT BTC             TO ADVANCE TO OR NEAR THE UPPER TRIANGLE PRIOR TO RESUMING ITS CONTINUING CORRECTION. IF BTC             FOLLOWS THE PROPOSED MOVES SAID LOOK FOR IT TO BREAK DOWN AT OR NEAR THE UPPER EDGE OF THE TRAINGLE IN A LONGER OR DEEPER CORRECTION OF THE 3RD.

TECHNICAL ANALYSIS - BTC             HAS FORMED A SECOND OR LESSER HEAD AND SHOULDERS STRUCTURE AND IS CURRENTLY TRADING ATTEMPTING TO BREAK UP PAST THE NECKLINE. iT WILL EITHER BREAK OUT AND TEST THE UPPER TRIANGLE LIMITS OR FAIL AND EXTEND LOWER. IN SHORT, IT IS A EITHER UP OR DOWN DECISION BASED ON THIS CHART WHICH IS OF LITTLE HELP TO INVESTORS ALONE. HOWEVER, WHEN COMBINED WITH ELLIOT AND CURRENT TREND TECHNICALS SUPPORT THE WAVE COUNT MOVEMENTS ABOVE AND THAT SCENARIO AS DISCUSSED AND INDICATED BY ARROW DIRECTION ON THE CHART ARE I BELIEVE LIKELY TO FOLLOW THROUGH.

GOOD LUCK & THE CRYPRO'S ARE OVERALL ON A NICE UPTREND WHICH COMMENCED YESTERDAY.
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