BITSTAMP:BTCUSD Bitcoin / Dollar
3 months ago
I am neutral at the moment but still consider this to be a Market with short term weakness....not as some would have you believe going to $100. It is still Buil market long term because the Orange Line is still above the cloud and out of price until it is broke? The is because of the recent events and the possible formation of a Large Cup, however this is is subjective and is likely to be a Falling Wedge caused by recent lows of $540 & $465 which will have to be resolved by breaking the recent downtrend line.
2 months ago
Comment: This bear target looks unlikely so probably more sideways on the cards?
You are probably right, I would wonder what sort of bottom was being sought to go below $465 but I have seen EW projections in that area which I don't fully understand? With such an aggressive fall at $540 & $465 the turnaround away from the falling wedge would have to be significant!