ew-forecast

BTCUSD: 3 Wave Decline Puts Bull Market Back in Play

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar

BTCUSD fell sharply this weekend, and continued lower as expected following a broken triangle that we have recognized in wave B. There was a five wave move lower into wave C that now show evidences of a bottom at the lower side of a corrective channel; around 1800 level which was also a support of a former wave four. So far there is a strong upward reversal from that levels; clearly an impulsive reaction that can take price much higher in days ahead. A break above the upper channel line may be a final confirmation that three wave A-B-C decline is complete and that new highs are back in the cards; 3000.
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Comments

this is called "hype cycle"
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