norok

Forecast change, more consolidation

BITFINEX:BTCUSD   Bitcoin / Dollar
66 0 1
I was looking to go long on a break of resistance expecting it to begin before the weekend. No long setup materialized Wednesday. Instead of progressing upward prior to the -chart- timing elements and the perceived -fundamental- timing element of The Halvening this bar I woke up to this morning changes the forecast. It look as if we are in for more consolidation rather than a break of the last short term high around 700. This consolidation could continue for another week. I would be looking for price to break either 700 or 626 to determine sentiment.
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