Technician
Short

BTCUSD: Major reversal below 9050.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
The price has broke the neckline for a double top pattern earlier. Before pulling back higher. But again price is under pressure, breaking its log scale rising trend line .
I think a break below 9050 would be a trigger for a major reversal targeting 4000 areas.

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Technician
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Thx. Interesting view. Maybe it's a simple W formation. Here my current idea ...

+1 Reply
Isn't this the trend line?
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Dude you better do your math right, because the height of the top minus and horizontal is much less than that. We're not going anywhere near 5K this will be a small shallow pull back
+1 Reply
@TomPower, sounds like you're really sure..
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TomPower TheDudeForex
@TheDudeForex, busted, but most of the gurus are seeing 8k and then up
+1 Reply
@TomPower, Most of the gurus have sold than and want to buy back a bit above 8k than?
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@TomPower, good luck :).
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