BTC and the partial decline of a broadening descending wedge

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
246 3
Ideas are written on the chart. I don't think the bottom is far away at this point. There's been enough acceptance of cryptocurrency as a legit asset class. There's just not much to work with, besides speculation, as no projects have really had success. Save Dan Larimer, that man is a genius,

There's also been some bearish news, but now we find that a lot of the bearish momentum has been by the mt gox settlement trustee, selling off 400+ million worth of bitcoin in 6k chunks. Apparently there's about 165k BTC left to be liquidated, which would be devastating. I imagine the CBOJ will step in and offer liquidity instead of allowing this to continue to crash the market, but we never know.

Other than that, we are staring at an overly bullish pattern playing out like it should. A broadening descending wedge looking like it will be fulfilling the partial decline before breaking out. I recommend reading about both patterns here.
Broadening Descending Wedge
Partial Decline
Comment: We already have bullish divergence, so I'm personally thinking the bottom isn't far off.

Great analysis man. Looks like the whole market is cup and handling right now
Cup and handle fractals
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out