Bulish version for BTC, identical patterns as the previous top
Look at the similarities, the only big difference, is the 2 lows in the purple area, this time the second drop was lower. So that's a weak signall. But this chart actually shows the bullish version. The yellow zones look almost the same, the purple zone also look alike. But is has to stay above the 15K but even more important, above the 14.500. In the bullish version it has to stay above the 15.500, and from that point should get above the 17.600. To break out the rising wedge, just as it did a few times earlier. I think we will get our answer within 24H
I think that this time, with the Alts breaking out, the competition has become much more serious for Bitcoin. I think it will drop this time, to at least the 13K, but probably even lower. But so long the bullish version stay intact, expct higher prices.
I think that this time, with the Alts breaking out, the competition has become much more serious for Bitcoin. I think it will drop this time, to at least the 13K, but probably even lower. But so long the bullish version stay intact, expct higher prices.
Comment:
See where it bounced of that first green support area! It's looking quite bearish now. A very big H&S could be formed here
See where it bounced of that first green support area! It's looking quite bearish now. A very big H&S could be formed here
So the bullish version seems to be winning. It is not there yet!I think a minimum above 18.500 would give more confidence for a push to lets say 20K.