Bitcoin Still Has Room To Rally Before The Next Downtrend

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin appears to be due for a short term correction to the upside after a massive pullback in the last 48 hours. However, the big picture continues to remain intact and the price will eventually have to fall back towards $4,000 and lower in the weeks and months ahead. The 4H chart for BTC/USD shows that the Stochastic RSI is now oversold enough for the price to shoot back up towards the previous trend line resistance that has already seen the price face rejection twice. This third attempt could be the last opportunity for Bitcoin bears to open shorts at a price above $5,200. More on this analysis here:
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