Hello , here we see our Bitcoin weekly chart from Bitstamp with the long view ! All the way from 2012 to present market . And you can clearly see the channel we have been in with the black lines on top and bottom . During Bitcoin's last 2 Bullrun cycles it touched up to the top of that line at some point and there is no reason why it shouldn't do the same this...
BTC on the weekly looks very weak and will be heading down towards $5250, once we hit this I do believe then could be the final push downwards and we should see a fast reversal followed buy mass movement towards the upside.
(See also my 2 hour chart update) When to go long? Three choices on my 2 hour chart but also apply to 4 hour chart. They are all points which had great significance in my thinking to go short. Williams Fractals (50% $7,367.6 H =$8,120.2), (50% $7,037.3 H=$7,509.7), (50% $6,991.5 H=$7,189.0). I cancel all my thoughts about shorts with a stop $7,189.0. Review going...
