The bulls vs the bears, who will win this fight. In max 12 hrs we will know.
It is not looking good for the bulls though, rising wedges and overbought for hours...
Bulls will win before year end but I think this round goes to the bears.
Look for 2980 double bottom, 2500 fib extension 1.27 and 2250 support line.
Trade active
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The rising wedge was broken on the down side, so the trade is active. First supports should be 3900, 3850 and 3800.
Trade closed manually
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I closed my short just after the bounce on 3850 at 3880. For now, I will either re-open short at a higher level if I feel confident and moving averages and RSI point that way.
Also, the hard bounce of the 3850 could be seen as (temporary) double bottom for a move upward.
I will update when I make a move
Order cancelled
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I think we will go up before we might see the C correction. I see a bullflag within a bullflag. Target may go as far as 4250 - 4300
@kilu83, Last time bitcoin dropped 1500 USD in 3 days. Off course this was also China news, however, if we break 3950 within a couple hours and 3850 and 3800 over this night if think we may see a steep fall. It will all depend on the bounces on the way but dropping below 3800 will be a serious blow against the bulls.. There should be a good bounce off 3500 though