Looks like we are in another infamous Bitcoin triangle. We had a nice short squeeze to $465, followed by a brutal long squeeze into the 350s. I suspect once this triangle resolves we should get a juicy move out of it. Personally I am leaning (and hoping) for a push to the downside. Simply looking at the Open Interest levels, I just don't see us having the buying power to make new highs. But hey ... this is Bitcoin, and anything is possible.
Good luck!
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It appears we have broken the lower trend line, and fallen to the bottom of a bigger triangle. Let's see if the $380 level holds. This could be the same scenario, except in a larger triangle.
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Current state of the new Triangle, let's see if this level holds:
I have the same feeling, and I was previously shorting, but with yesterday's action made me slowly close it. This chart is on weekly basis and I still don't have any feeling wether up or down. Anyway it's big !
Turco
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Yea we will see...I suspect a move down, unless a big player has been accumulating coins/ longs on these dips.