PentarhUdi

Short term analysis: ending diagonal

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
I assume price traces giant triangle correction since ATH . It is interesting that B-waves inside have impulsive subcounts.

We have wave b of (C) here in its termination state, which shows textbook ending diagonal with falling volume and multiple oscillator bearish divergences. Ending diagonal allows some upside from here even temporary breaking resistance lines. But not too much, I think $11000 level will invalidate this idea completely.

If this idea is correct, price should fall from current levels down to weekly MA 200 in term of 1-3 months.

Breaking upper bold red line (now or later) will open door to long bull run.

Price is long-term bullish while it stays above weekly MA 200.