SalN

Bitcoin Structure Update Dec 2nd 2018

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin weekly chart
I know that bitcoin has been frustrating. I have been waiting for something to show itself. IT appears that the pattern that we have been correcting in a a downward slopeing flat pattern. So to keep it simple, I used different color paint lines to show the correlation as I see it. The first is the blue drop from the $20,000 range. We still have not, IMO , finished the 2nd blue line drop . The first move up from that steep drop I used a yellow line to show the beginning move of the flat. We still have not performed that similar move up which I am hoping we have finally started last week. If this is to be the similar move up, then a 100% move up should bring us to the bottom of the light blue box I placed on the chart. (not necessarily on that date). That move could extend to the 1.23% range as well. Then I am expecting the final very deep drop to complete the correction. Since we have already gone to the green zone, if I am correct about this pattern, then the next final move down should most likely extend to an even lower price as I have shown on the chart. And I am still expecting all of this to be finished by mid April of 2019. GL
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