Bitcoin hasn't had a good pullback and retest at the $51,500 since its massive push up.
If it want's to keep climbing it will need to pull back for healthy higher highs.
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The Fall down hasn't been as drastic as I expected. It is starting to form an upside down Cup pattern. This means we should be able to expect an even lower fall than originally estimated. Keep an Eye out for it to fall anywhere between 47k to 50K.
Then look out for a handle to be attached to that upside down cup which is bad news for BTC, since it indicates an even further drop.
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wow, how My update was wrong. (did I mention I am not a financial adviser?)
The breakout this morning indicates that it is heading to 57k, The bulls have rallied, Hazah!
hate to admit you are probably right. never has retested that 51k space. 41k to 62 and down to 46. much healthier to confirm the 51.5k pullback.
CrazyLarry
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@McGorgeous, thanks friend! For clarification, when you are saying 41k to 62k and back to 46k are you saying that BTC should overshoot 51.5k support and instead oscillate within the 51.5k region?