bullsacks

How It Played Out PT. 2

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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2
On my last post "How It Played Out Pt. 1", I described how I thought btc would hug the demand line established on Oct. 21st before deciding its next direction. You can see it did just that and even closed a day below the demand line before breaking, retesting, and holding the line. Btc seems to have decided it wants to keep running and respecting this line. Again, once there is a confirmed breakdown of this trend I will turn bearish . For the near term, my best guess would be btc following the sloppy IHS formation I have shown above. The right shoulder should give a final confirmation retest of 35k before moving up to new ATHs.

This is not financial advice.

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