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AyKay-Trading

Target $2,500

Short
Bitcoin (BITSTAMP:BTCUSD)  
AyKay-Trading Updated   
BITSTAMP:BTCUSD   Bitcoin
Trend Analysis Chart Patterns
4
1
trendanalysis chartpattern
Target $2,500

Bearish arguments:
  • Bearish trend
  • A lot of short positions have been flushed recently without short squeeze effect
  • US Shutdown negatively impacts the ETF decision. I expect a rejection between Feb. 23rd after the last trade of the CME futures and Feb. 27th the ultimate deadline

Comment:
Comment:
Bear flag

snapshot
Comment:
Erratum: that was a pennant
Comment:
Yesterday CBOE withdrawn its proposal for a Bitcoin ETF without generating any significant sell off. The bear market may have ended.

I'm neutral now.

We'll probably see a second test of the Weekly MA200 but I am much less bearish than initially.
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