after bitcoin's earlier rally to the witching hour when CME futures expired, the bears have come out in force and are pushing hard to try and get btc to re-enter its previous descending channel. watch for hard bounces for possible longs OR a significant break back into the channel for possible shorts (not financial advice, just a n00b thinking out loud).
Trade active:
bulls are fighting back now; looks like they are pushing for completion of a bullish flag continuation of uptrend
Comment:
bears may be completing a flag continuation pattern of the downtrend. look to see if we break the 0.618 fib. next stop after that will be the 0.5 fib line:
Comment:
we now have a healthy break of the 0.618 fib line. look for an attempt to break back above it by the bulls; if it gets rejected it could be a good entry for a short, but that isn't financial advice unless you like n00bs telling you what to do.