Bitcoin - hope or despair?
Updated
I got an interesting comment that we might only be forming a consolidation pennant here, I still believe that we reached a double top but really have no data to reject that idea for now. As weekend moves tend to form extrem moves I guess the next days will reveal where we really are.
We are still respecting the 21 daily, we are still fighting the 8 daily and the 50% retracement around 11575, to me there is as much room for hope as is for despair. Let's await a closing price and see!
We are still respecting the 21 daily, we are still fighting the 8 daily and the 50% retracement around 11575, to me there is as much room for hope as is for despair. Let's await a closing price and see!
Comment
Despair it is, with this weekends' plunge we broke the pennant, the 2017 50% retracement and the daily 21, bouncing of the 61.8% retracement and the daily 55 around 9850, forming a temporary support zone with the 2017 38.2% around 9600.I assume we will meet the daily 100 by the end of the month around 8800.
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