TradingView
UnknownUnicorn1016020
Jul 20, 2017 7:39 AM

BTC loading for action 

Bitcoin / DollarBitfinex

Description

BTC has seen action with the recent dip and is currently consolidating.

I can see potential for up and down movement and the Segwit2x lock in (or failure thereof) is a good narrative for both cases. Watch BIP91 lock in here: xbt.eu/. It could complete in 15h, but it requires 80% and currently 79.6% are signalling. Very close call.

A flag is a strong bullish signal which might push BTCUSD up to $2700 (using $2600 as a more conservative target).

Head-n-Shoulders is a strong bearish signal, which could make it scratch the $2000 again.

Comment

Not going down into buy zone. I guess people are already anticipating a lock in and prepare for a rally afterwards.

Comment

Rally happens before lock in.

Comment

I did draw that green arrow to estimate the height, not for BTC to actually reach its tip. At the current rate it will though. Crazy.

Comment

What a rally. That buy zone did not realize and I FOMOed in on the breakout.
More