A retracement is coming. That's beyond question. Just when and where? Currently we are far out of the Bollinger Band in the week chart. Besides, it's in the third wave. Bollinger works very well with Bitcoin besides Fibo. So just think about how far the whole thing could go. I look with interest. Especially because many people - in my opinion - don't know enough...
Updates will follow on this chart. I have a very strong feeling our 2013 pattern will repeat, with the main reason that the ICO mania is over and that this cash will flow out of the coinmarketcap again. Month chart and week-chart are still topped, once the weekly macd starts to turn bearish we will see a large corrective phase.
Perfect bearish shark forming, heading to 1300 then downward, do not short now.
I will upload another graph using pitchfork to determine potential drop in bitcoin's long term upward trend.
The BITCOIN went bullish like crazy
But now it's time to be careful, all you bulls out there! Some correction may happen, if we judge the bitcoin price as the normal/usual currency price that we trade so often. Even though it's a crypto and some rules may be different for this instrument, the fact that Donald Trump got elected set a pivot point for the day DT...
Based on my experience, bitcoin market very often pumps and then corrects itself. Usually there are moves in like 20-40 USD and then correction half the way. I see the price rise for last few days, I expect it to reach like 425, maybe 430 and then I expect correction to like 410-400 range. I think this cycle will happen until sunday/monday. You should prepare...
