Update to BTC Out of the Bubble
Updated
Just a small tweak based on the ETF-related pump over the past month overshooting the original target of 8k slightly. Other than the slight overshoot, the pattern analysis has generally held true from July 9 (6700 level - predicting the dump to 6100 and the pump to 8k+ and the collapse back below the trend line).
The plan from here is a retest of 8k as resistance (as 8k has not yet functioned as resistance - 7800 was the only meaningful resistance on the way up) followed by a long road down to the key September 1, 2017 resistance level of 5k.
The plan from here is a retest of 8k as resistance (as 8k has not yet functioned as resistance - 7800 was the only meaningful resistance on the way up) followed by a long road down to the key September 1, 2017 resistance level of 5k.
Note
Note
the apparent busting through the top of the triangle is eliminated by using a log chart. This has been done in the update.Note
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<p><a href="tradingview.com/chart/BTCUSD/Hducie3o-BTC-out-of-the-Bubble-Part-III/">BTC out of the Bubble Part III</a> by <a href="tradingview.com/u/DavidNeiderauer/">DavidNeiderauer</a> on <a href="tradingview.com/">TradingView.com</a></p>
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Note
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