BTC/USD Bottom Call On This Fall

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Here I think that bottom will be right about $7,000 where we have strong support created by the colliding of a trend line , volume support, and the falling wedge .

After hitting about $7,000 I expect a large up move and potential retest of the $12,000. From there we could either fail and start a long decent back down to the 5k-4k range, or we could go up and start contesting for 16k, and then hopefully new all time highs.

Let's see how things play out.

Remember, bitcoin falling in price isn't a bad thing. It's a good thing because it means you can load up on more coins.

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