JayLee
Long

3 up or 3 down on Bitcoin??

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Many people are looking at the larger ABC retracement on BTC right now, the price action does not seem to be supporting this scenario currently however. We are down to the squeeze on this pennant pattern on the daily, the next 4-5 days will be crucial. I personally see the 3rd wave of our first impulse move out of this correction starting to develop.. but only time will tell. Bottom green line is a VERY strong trend that has not been broken for over a year now, and the bears seem pretty weak at this stage in the game. Barring some drastic FUD (are people still falling for this?!?!) I think this recovery is well on its way! Hold on to your hats.. this next move is going to be YYYUUUGEE!
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