Reiss_Amara
Short

Analysis of continued bearish possibility for BITCOIN

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hi guys,

Here is my main prediction for the next stage of Bitcoin . I feel at this point this is the most likely forecast, in my opinion.
Hope my ideas help people gather a better idea of what could happen!

I'll update when I have gathered enough extra data for anything to change or for me to support my prediction further.

**Don't take trades based purely on my ideas shared with you; I'm just providing an idea for people who are after some knowledge of what could happen. You should conduct your own analysis and research to build up your own predictions**

P.S. Don't forget that with Bitcoin and other major crypto's there is the possibility of spread betting with major brokers so that traders can participate to profit from down moves without having to wait for the uptrend to continue again.

Reiss
Feb 11
Comment: Sorry people, got my prices mixed up.

Green ABCD pattern should be ~2900 target
Red ABCD pattern target is ~3600
Feb 12
Comment: Price has broken and held beneath blue counter trend line, although a head and shoulders pattern seems to have developed (refer to my more recent analysis). All we can do now is let time tell.
Feb 13
Comment: Price seems to still be holding well beneath the blue counter trend line. Let's wait and see how it reacts to the gold major bearish trend line - whether it breaks above and we receive bullish confirmation or if it gets rejected and begins to break down again.
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