Picnic44

Are we retracing back to 12k?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
A descending triangle is forming on the hourly charts but the volatility of the market creates some ambiguity in the readings.
Another price drop is highly likely if the bears can push down below the descending triangle with a high volume .
11-12k would provide a great buying opportunity for those who missed the previous bull run.
Personally, I use Tone Vay's altered TomDemark indicator to buy into the dip once the counter hit green 2 and trades above the high of green candle 1.
(Alternative versions of the TomDemark indicator are available on TradingView but they are slightly different from the version I have and they seem to work less effectively in my own personal experience.)
hiIm thinking exactly the same, but we need to know that tomorrow the BTC is going to trade in: Chicago Board Options Exchange
What do you think?
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Picnic44 DanielFazenda
@DanielFazenda, It's so hard to say. I think those who want to trade BTC on the CBOE have already purchased their coins, hence the bull run. Since we have started to correct, they might as well short the futures so that can lead to further correction. personally, I'd be thrilled to correct to a healthy level so we can continue to reach up with a clean conscious.
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