Interesting dump happened due to the Bitfinex allegations.
Let's see how this play out. Even though BTC broke through the bullish triangle as in my last analysis, it got rejected at 5700. Which is a weird price point, since above 5500, there was little resistance.
Yet, still, here we are.
Now there is this ascending channel at play, and we have to see if BTC breaks to the downside or manages to stay within the channel and continue the bullrun.
This correction was still not very severe, so a bullrun continuation is still possible.
In case of break to the downside, the 2014/15 fractal could come into play. However I have to say that I don't think a double bottom would happen like back then. This is just too obvious. BTC could tank down to the daily MA200, which already would suffice
as a big correction.
Let's see how this play out. Even though BTC broke through the bullish triangle as in my last analysis, it got rejected at 5700. Which is a weird price point, since above 5500, there was little resistance.
Yet, still, here we are.
Now there is this ascending channel at play, and we have to see if BTC breaks to the downside or manages to stay within the channel and continue the bullrun.
This correction was still not very severe, so a bullrun continuation is still possible.
In case of break to the downside, the 2014/15 fractal could come into play. However I have to say that I don't think a double bottom would happen like back then. This is just too obvious. BTC could tank down to the daily MA200, which already would suffice
as a big correction.
Comment:
I still think BTC will surprise us. Doing the obvious 2014/15 repeat would be too simple. Something weird has to happen. And that is only a long sideways or an unexpected pump. Everything else would be pretty derivable.
Comment:
It's just barely hanging in there:
I think it will break to the downside, but I think BTC will maybe just go sideways for a while.
I think we won't see it going below 4600-4800, that's what my feeling tells me. That would be enough for all indicators to cool off, even the weekly.
I think it will break to the downside, but I think BTC will maybe just go sideways for a while.
I think we won't see it going below 4600-4800, that's what my feeling tells me. That would be enough for all indicators to cool off, even the weekly.
Comment:
It's still not through the resistance of this rising channel, but at least the support held. So for now, the 2015 fractal, that everyone keeps charting, hasn't appearead yet, and might not appear after all:
If we get through the upper resistance, things really will get interesting. Then we could indeed shoot up to 7500, maybe even 8k.
If we get through the upper resistance, things really will get interesting. Then we could indeed shoot up to 7500, maybe even 8k.
Comment:
Come on BTC. DO IT. We know you can!
Still in that channel. But I'm under the impression we'll break through very soon, and then we could see another 1000 USD pump in a very short time.
Still in that channel. But I'm under the impression we'll break through very soon, and then we could see another 1000 USD pump in a very short time.
Comment:
On bitstamp it managed to break through the upper resistance of the channel. On bitmex not, so I have mixed feelings here.
We need to push higher if I should believe that the 2012 fractal is indeed materializing.
Else, BTC will probably just do something new, hehe.
We need to push higher if I should believe that the 2012 fractal is indeed materializing.
Else, BTC will probably just do something new, hehe.
Comment:
Now we have definitely broken through the resistance. We have to see now how BTC will behave at the next key resistance, at 6500 USD. For the 2012 fractal, it would need to go higher, around 7500 USD.