Joseph_Yabwa
Short

Bitcoin Still In A Corrective Structure! BTCUSD

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
In my last bitcoin analysis, was expecting the downward move to be imminent but current price action suggests that we will be heading up for one more high before we go down which will just give us a bigger correction but we have to be very cautious because in other for Bitcoin to make a new high it will have to break the descending trendline! Breaking the trendline doesn't mean anything, it's what the market does in terms of price action that will determine where bitcoin will go to next and the fact that we are in a bigger correction I'd still expect us to go down but the short term bias now is on the upside pending a break out from this current buy set up

I've attached my previous posts on this currency pair so feel free to check them out below.

As always, any opposing comments, views, arguments or feedbacks are welcomed!
Comment: My Last post, I was expecting downside move to be imminent but Price action has delayed that bias

Comment: Previous post, where I was expecting a slight correction before going down

Comment: And then we have this, it happened a while ago

Comment: And also this

Comments

Really good analysis.
+3 Reply
@bintoukx, Thank you bro, I appreciate the feedback
Reply
@bintoukx, Thank you for the like and comment
Reply
Very good analysis!
+2 Reply
@DavidL25, Thank you bro
Reply
Good chart!
+2 Reply
Joseph_Yabwa Cornell100
@Cornell100, Thank you bro, i think it looks good too
Reply
Joseph_Yabwa Cornell100
@Cornell100, Thanks for the feedback
Reply
Joseph_Yabwa lucamodena
@lucamodena, Very interesting, so accordning your analysis we could go a lot higher up until we hit the descending trendline of the triangle
Reply
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