This is a follow up to my last published idea. With the drop yesterday and this morning bitcoin has now almost completed the Head and Shoulders formation. Since the low this morning bitcoin has bounced but as of me writing this it is yet to be determined if this bounce can turn into a real recovery, possibly taking bitcoin back to and even above $12k. Or is this bounce just a dead cat bounce distended to fail sending bitcoin even lower possibly down to fill the CME gap. Coincidentally, the measured move from the Head and Shoulders pattern would take bitcoin down deep into the CME gap.
Whichever way bitcoin heads in the short term I remain very bullish in the medium and long term. Looking back at the 2017 bull market there were quite a few deep correction along the way, so I fully expect the same this time.
Whichever way bitcoin heads in the short term I remain very bullish in the medium and long term. Looking back at the 2017 bull market there were quite a few deep correction along the way, so I fully expect the same this time.
