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Bitcoin ETF Rejected: Bearish Short Term Still Bullish Long Term

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Just sharing an inverse fractal idea for Bitcoin             . Feel free to comment.


Market Update:

SEC rejected the Winklevoss Twins Bitcoin             ETF earlier today.

This makes BTC             short term bearish , with downside targets from 780-880.

However, we are still bullish on the larger timeframe, with possibility of SegWit activation if Core vs BU can settle their issues, Rootstock release scheduled for May 2017, and the viability of this technology to revolutionise countless industries is beginning to be understood by the early majority.

In the meantime, let's enjoy the Altcoin party or sit tight in USD with bids in place.
Trade safe and don't forget to take profits!
Any update for BTC? Where is BTC going? Up or down? Thanks.
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