A much cleaner triangle

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
The picture for most might have been confusing when BTC starts bouncing with conviction and a lot of people hope that the new bull market is starting. I wanted as much as the next guy, but it's so clear that we are still bearish and will continue to be until we have a violent move to the downside. On the 3 advances you see within the triangle we first broke over the 200 EMA , then over the 100 EMA and now only over the 50 EMA . The price action gets weaker. The conclusion of this pattern is coming to an end and I expect a breakdown in the early days of October.

Good Luck!!!


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