As you can see bitcoin has complete a rising wedge, in my opinion this is due to a equilibrium pattern forming here leading to about 10k for it progress to completion.
- I have the targets and stops set on the chart. :D
Pattern indicators show downtrends.
Bollinger Bands widening, likely to narrow as Bear Flag completes.
Bear Flag predicting further downward movement.
support levels of 5k broken downwards, expect further bearish movements.
Personally, 5k seems like prime buying opportunities as trends seem unlikely to move under support levels.
Recent days have been a wait and watch brief on BTC/USD as an inner wedge has formed (white trend lines). Today we broke out of that wedge with a bearish movement and currently we lie almost perfectly on the 50% Fibonacci retracement. If we break the Fibonacci 50% then there is a possible opportunity to short as we could be headed to the bottom yellow trend line...
BTCUSD MEET BEARS
People, it's nearly Christmas.
And people need to buy presents at Christmas.
People can't yet buy presents with Bitcoin.
People need to sell Bitcoin to buy presents.
Thank you for reading my poem.
I'll see you all in 2018 for the Bull Rally on Cryptos.
Expect Crpytocurrencies to be the 2nd largest volume of trade in 2018 behind Foreign...