BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Fitting in with previous prediction. A potential rising wedge pattern that should begin moving to the down side anytime soon. In my eyes, a retest of the $20,000 is inevitable as we haven't seen this region since we last broke through mid bull run - and if that is the case, the downside momentum and overall realisation that the bull run is over for this cycle should inevitably bring TP1 of the wedge at $10,000. Coincidentally, market top to market bottom in this case would complete at around an 84% pullback - which is similar to many other big BTC pull backs. TP2 at around $4,000 I deem an unlikely event but have marked out none the less as a possibility just based on the wedge pattern.

Comments