K155MY4R53

Bitcoin's Many Options

BITSTAMP:BTCUSD   Bitcoin / Dollar
229 1 2
Bitcoin failed to bounce off its lower trendline as convincingly as the bulls might have liked. It looks like it might be coming around for another pass so I've sketched some possible outcomes for it:

1. The upper trendline of the falling wedge is broken and the price shoots up in the short term before continuing to progress to the mid-term upper trendline. The falling wedge is a bullish pattern but I can't be certain that this one's legitimate.
2. The widening channel breaks to the upside or the price bounces off the lower mid-term trendline and then continues gradually to the upper mid-term trendline.
3. The price breaks the widening channel to the downside and fails to bounce off the lower mid-term trendline, breaking down into perilous territory.

For the time being, we're hovering above the fib support, but if things go too far south, we might see the core. Overall, I'm short-term bear and long-term bull , hence the "neutral" tag. The mid-term is difficult to judge right now.
K155MY4R53
2 years ago
Comparison of Fractals

Zoomed out.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out