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CPelsor

Bitcoin - The Monthly chart I cannot unsee

Short
Bitcoin (BITSTAMP:BTCUSD)  
CPelsor  
BITSTAMP:BTCUSD   Bitcoin
Trend Analysis Chart Patterns Technical Indicators
2
0
trendanalysis chartpattern indicator
A clear rejection off the 0.5 fib retracement sets an algo target of a little above $8000 for bitcoin

This is greater than 2.5x off the previous cycle low

This would be an 87% retracement from ATH (a fairly typical boom-->bust retracement size for bitcoin)

Target invalidated with a monthly close above 36k


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