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jthrasher

Bitcoin daily macro view. Possible diamond reversal structure?

Bitcoin (BITFINEX:BTCUSD)  
jthrasher Updated   
BITFINEX:BTCUSD   Bitcoin
Chart Patterns Trend Analysis Bitcoin (Cryptocurrency) BTC XBTUSD Chart patterns
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chartpattern trendanalysis bitcoin btc xbtusd chartpatterns
A lot going on in the chart, and could have illustrated a lot more smaller patterns, but gives a good look at our current market structure imo. I personally feel like we will grind up a bit more but we could still go considerably lower and maintain technically bullish overall market structure.
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tagged the channel median line and got a strong reaction. That's a bullish look imo
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what I believe is the current wave count on SPX, which means there's a little more up to go before correction. I'd imagine it to be a shallow (.236) correction where bitcoin came back to maybe 7.8ish before another motive cycle up
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I find it pretty interesting that if you extrapolate a measured move from the height of this diamond structure it takes us almost perfectly to last Summer's high
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