WolfTA

WolfTA

Our view is that Bitcoin has ended its parabolic rise, and will likely soon correct some 20% in a rapid selloff. Our reasoning is simple: as outlined in our previous post, markets typically form wedges before the exhaustion of a bullish wave to indicate a shift in momentum is occurring. This is precisely what happened here; the ascending triangle outlined with...

WolfTA

Our view is that Bitcoin will form a rising wedge, completing a breakout which is likely to be the last of this medium-term bullish cycle. In our chart we have different colored lines to clearly delineate our timescales of interest: blue for the short-term, wherein we see a predicted rising wedge, and black for the medium term, which depicts a typical ABC...

WolfTA Updated 

Overall, our view is that Bitcoin is likely to continue its uptrend and complete a standard upside ABC correction. In our chart we have different colored lines to clearly delineate timescales of interest. An analysis of Bitcoin's medium-term movement is shown in blue; that of its long-term in black. We see that Bitcoin was rejected (shown with the dotted vertical...