Very intresting situation. Now Bitcoin in supply zone. I see rising wedge - reversal pattern. Now BTCUSD working very good with fibonacci levels. I look down but If bitcoin breaks the psychological price of 3000 it will easily reach 3400-3600
I agree on the rising wedge (I call it a bearish flag) seeming to indicate that, if we depart from the sideways movement at all, a downtrend is most likely. Additionally, we have yet to see the full effects of the BCC launch, and the most likely outcome of this (again, if we depart from the protracted sideways movement) is down.
Just don't see it breaking $3000 until things become clearer and can be factored fully in, and even then it's going to be a hard slog. This may well be the top of the heap in this loooooong rally. Nobody yet knows what to make of BCC. They may say they they do, may even think they do, but they don't.
Megarushing
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@Primalsteam, We are also yet to see the outcome of BTCe closure...
Do you think we will see a retest of the $1300 ATH. We haven't retested that one yet. Possible support zones at $2400,2240,1850. There seems to be a lot of territory that could be retested.
mssk
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@gypsyking9, possible, but not necessarily probable
Just don't see it breaking $3000 until things become clearer and can be factored fully in, and even then it's going to be a hard slog. This may well be the top of the heap in this loooooong rally. Nobody yet knows what to make of BCC. They may say they they do, may even think they do, but they don't.