Looking at the chart you can see that we are at the top of the range, bitcoin has received a lot of positivity in the media as of recent the biggest being the CME futures . Like Goldbug stated though, this won't affect the price in the slightest, this doesn't mean the wall street billions will be flooding in come December as it is cash settled so...
If history repeats itself then we're about to go into wave C of an ABC correction. Compare the two charts and the market structure, so so similar.
Entry at 7210
Stop at 7401
Once we do bounce new ATH's will be here, the real question is what happens to B Cash...
I don't believe the correction is over just yet. Take a look at the short vs longs ratio, shorts are at the lowest they've been in a long time where as a lot of them longs think they've got a free ride to the moon, unfortunately there is no free rides in crypo margin world. My guess is that we'll climb to ~$7000 and use the log trend line as resistance then we...
Expecting a short term consolidation down to the red line, bids should be staggered down to there. The ETHBTC ratio is now in ETH's favour, metropolis is also just round the corner. Expect new ATH's from Ethereum in the next 2 months. Some profit should be taken at previous resistance but let this position ride it out.