After days of le miserables sideways, BTC has been moving in a very tight range and looks primed for a big move one way or the other. It's important to realize that price has finally settled in an area with some actual history and support, making any bearish continuation likely to be much slower and grindier than the initial fall from 20 to 6k. Technicals remain bearish across the board and such a grinding bearish continuation is what looks most likely in my opinion. If you've been following my 2014 fractal idea, you'll know that I'm still quite bearish medium/longer term. That said, I will continue to play the bigger 4hr bounces as I have all the way down from 20k and the above chart shows the levels I'm currently looking at to buy (both bitcoin and some altcoins when btc gets there). Happy trading my dudes/dudettes!
코멘트:
Bear pennant ended up breaking up (typically much lower probability outcome, but definitely can still happen). Should've mentioned to play the breakout as well. Price targets remain the same.
