cantestogo
Long

Near to resume bull's trend

BITFINEX:BTCUSD   Bitcoin / Dollar
227 1 3
Looking at daily chart we can see the previous uptrend taking the shape of a rising wedge . It couldn't last forever, so follows a retrace around 0.5 - 0.61 Fib lines and a consolidation period. Probably we can test one more time the long period blue trendline around 560 then go for new highs; this could occur also in concomitance with SR auction.
If you look at previous rally you can observe that happens the same: rallye, retrace, consolidation, touch of the blue line and a new run up. We are also very close to go above the MA 200 and probably it could begin an impulsive uptrend if new investors come into BTC world. Good luck for your trading.
ChartArt
2 years ago
Great forecast. I especially like your description of how you saw this playing out.
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