elispencergill

Possible Bulkowski's Big M Pattern Forming on BTC

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Very import moment for BTC right now with current support sitting at *historic* 9300, if we fall through this, we could be heading to down to the 6k mark again to complete Bulkowski's Big M Pattern.

If we bounce off support, good chance to open a long position as we could break out of the downtrend channel . If we fall through the support, its a nice opportunity for a short.
Comment: UPDATE

We have fallen through the 9300 support and are tanking pretty hard as predicted, next major support is 8300-8400, we have already bounced off it once, is it enough to hold? Too hard to say at this stage, I am leaning toward no, purely based on the massive market cap drop, only time will tell with this situation unfortunately.. We have liquidated all short term holds to btc and a chunk of btc back to fiat, looking to buy everything back in cheap and ride the wave of green.
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