Nickonomics

BTCUSD: Short-Term Levels

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Strong upside momentum allows for new record highs every day. It's becoming more evident that the market is trending in the large Wave 3. The short-term chart (m15) shows a cluster of resistance @1563-1569. I would like to draw your attention to the Pitchfork: as long as the price stays within it, the micro trend is clearly bullish . The first sign of a pullback would be the brake of the lower pitchfork line.
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Now we have a clear break of the lower pitchfork line. Ergo a clearly bullish micro trend should be over.
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@etrada, it did signal the correction. Then a new wave of a higher degree followed. Check out my new price update:
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Hit the fib levels pretty good!
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