Always dangerous to foresee the future but especially today!
The dark green line being the 0.618 lower diagonal of the fork and having been closely followed for sometime now so reasonable to believe this is a solid trendline. Targets are obvious but still maintaining a bullish stance medium to long term.
Bitcoin has been taking its sweet time. I think we are at the point of bull heaven. This latest consolidation looks like a triangle kinda pattern. I think the e wave will be a false breakout to the lower trend line.. This will bump RSI to oversold which should wakeup those bots
The stage is set.
no mass adoption... no B2B transaction capabilities.... no proprietary moats.... incoming competing coins
all = lower btc price
Likes and comments always appreciated thanks guys.
As you can see, there is an interesting pattern forming. BTC follows CNY's decline in value in a inverted manner with less and lesser of a delay responding quicker to the CNY movement. The market is getting more efficient at responding to the demand that emerges through the devaluation of the CNY.
This is how I see it and not a trend reversal. Of course I could be wrong, but after Stair & Elevator 61.8 per cent retracement Throwback/Pullback resulting from a denial of the Rising Wedge shown by broken yellow lines. Usually this pattern corrects below the lower broken yellow line but because it has corrected ...