Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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My previous Bitcoin chart is still valid, but this recent pump has allowed me to identify a pattern that no one is talking about, that we regularly see in the FX market called the "bearish megaphone". The bearish megaphone works great in that there is are long steeps ride down at the end of last upwave, and breakdowns are usually violent (much like ascending broadening wedges, which are another favorite of mine).
This pattern is targeting the 0.618 fib on this chart, but I have no doubts that we will fulfill the previous symmetrical triangle target of 3450.
SIKE I WENT LONG