More Upside Possible

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Price deviated strongly from the moving averages, up to 40%. As the Bitfinex panic spike didn't replicate across other exchanges on might leave that aside and stick to the 18% deviation of the 2nd low instead. In the past, such strong declines were often followed by slightly less intense overcompensation to the upside, usually within 1-2 weeks.
I expect a continued rise spiking into the lower 260s, most likely followed by a sharp decline back to the 230-240 area.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.