Hey guys, quick analysis on Bitcoin. We will see lower prices! Bitcoin will fall at least to the marked zone at around 6900 USD. From there on, it could be, that we bounce back to the top of the trendchannel, then we will see a triangle corrective structure in bigger picture. The second opportunity is, that we will go lower from there on. It means, if we break this area sustainable, then the price goes in the direction of 5000 USD. Remember it is the last big downmove in the cryptomarket. I already said it in my previous analysis. Check out my comparison to Bitcoin correction in 2014. It will be the same, not 100 % but the waves are close similar. After that, the correction pattern is complete. The chart is now figure out, what he want, a flat or a zig zack. We will see, good luck!
Comment:
exactly as expected, that is nothing surprising!! Enjoy the next downmoves. We broke the trendline and will see a.) trend continuation under the last low, or b.) we will correct to trendline and then fall! good luck.
Comment:
likely to see a break of 6000 USD! if we break, could see 5000 USD soon. Very nice opportunity to buy.
rising wedge, short potential!