would like to go full on bear mode - always be careful shorting BTC though.
It is incredibly risky to short bitcoin but let's go.
Notice when bitcoin touches the yearly long channel "A" it drops on the average of 25%. After the first drop, BTC touches the channel once again "B" then drop to the support of the channel and the drop is on average 38%. Recently, it touches the top of the channel and drop 29% and now it touches the channel again "B' and I expected it to drop from there. ...
BTC -1.21% has been going on a rally from the previous correction caused by BCASH FUD and Segwit2x correction. Prices are bouncing off the neckline of the previous head and shoulder and needs a heavy volume to approach all time high. Volume is diminish and prices are in at resistance. A head and shoulder pattern appears to be forming and a move down is expected....
The road is long and winding ...But, I think we'll see 10k pretty soon so I created this forecast based on BTC performance history (even though past performance does not indicate future results BTC has been following a pretty consistent pattern: it respects major channels, fibs and and supports wave theory without fail... yet) and though there may be some more...
This wild ride is fun and looks like it won't let me leave. I'm waiting for shorts to throw in the towel before I exit longs but they just won't do it. Shorts are at support turned resistance on our broadening wedge pattern and looks with 2x called off, maybe this will be what it takes for shorts to capitulate and give us a last squeeze (to 10k?) where we can...