BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hi fellow enthousiasts,

Like so many others I was looking forward to finding out today who would win the battle between the bears and the bulls that has been going on for a while now.
After the head and shoulders pattern formed (props to MPC for calling it first afaik by the way) it seemed plausible a decision was imminent. Unless of course we buy time by bouncing up and down in another triangle :-)

I have no idea what to expect but I do enjoy the show. Though last two weeks show a trend upwards the trend in a wider timeframe is still bearish so I am afraid going down is more likely than going up at this moment.
Please let me know why you think different if you do.

Regards,
CJ
Comment:


We see a clear break from the triangle but it looks like the old downtrend channel in red at least is slowing the bulls.

Last couple of times BTC took a dive it was right after a very similar situation so I am keeping my money in my pockets until I see a clear break through out of the downtrend channel. Would not be surprised to see BTC taking a dive down the channel after testing the upper wall of the channel unsuccessfully.

Good luck to all.
Trade active: There is a clear breakout from the channel so after a long time I am in. Finally :-)

I am not too confident yet I must admit, so a tight stoploss is part of the deal.
Fingers crossed!
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