CRInvestor

1hr BTCE price analysis post convention

BTCE:BTCUSD   Bitcoin / Dollar
222 0 2
Price action between expanding channel lines here suggest to me we could be in for a bit of a wild ride as we trade on the other side of the San             Francisco convention. For the bulls, we still remain within a double bottom pattern (stop 566) within a bearish Bat harmonic pattern . For that Bat to complete we would need to see a price target for point D north of $600. For the bears, the higher time frame bear ab=cd target remains unfulfilled so a fail of the OTE             long sweet spot (again 566) suggests we could easily visit the bottom channel line which just so happens to be at the bear ab=cd price target (534).

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