Toru
Short

No upper thrust left in Bitcoin

BITSTAMP:BTCUSD   Bitcoin / Dollar
It seems this pair exhausted and no more upward thrust.
The orange shape shows 1st Bat pattern formed and this push price down nearly 300 points. Now, the second Bat Pattern that comes with same magnitude formed and a thrusting news came out that PayPal supports Bitcoin             . If the chart retains potential upward thrust, this news would have skyrocketed the pair since this formed Batpattern completed. Result was 60 points upward and was cancelled immediately. This price action indicates that there is no upward thrust remains. Once it broke previous low, descending triangle shows price may hit 120 level. Who knows?

Related Ideas

paypal anounces they support bitcoin and price drops.......... thats just some manipulation for accumulation thats all that is.
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Toru PRO console
Yes news is just a news. The point I wanted to picture was if price are willing to go up, even a slight news fires up and vice versa. Thanks for your comment!
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Patience :)
I'm starting to see seller exhaustion right now with lows getting harder to be made.

Expecting $330-360 as the lows for this year.
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Toru PRO LastBattle
Thank you for the analytic idea. Yes 330 will be a key area. If bounce, comes back to 700. If broken, lets see..
+1 Reply
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