Rising wedge broke down: target 3200
Updated
We bounced off trendline back down and broke the rising wedge. This should lead to a drop back to 3200, potentially revisiting bottom below 3000
Comment
Ideal entry would be 3985Comment
I adjusted the lines of the wedge a bit, check itTarget would be 3250
Comment
trustnodes.com/2017/09/19/china-bans-bitcoin-executives-leaving-country-miners-preparing-worstThings are getting ugly, china ban might be total.
Wsj also suggests all bitcoin transactions are no illegal and that the gov. will block blockchain sync
Comment
4055 is a key level in the next hoursComment
I like this fractal. Could play out.
As the wedge points down to 3250, closing at 3475 could be a good idea.
By the way, more doom rumours
twitter.com/bitcom21/status/910579544897200128
China could potentially "kill" mining by either completely banning any form of crypto-fiat trading or even by seizure of mines
Comment
We are breaking the support, if we finally break it, 3475-3500 should happen real fast.Comment
Potential bear flag pointing to 3475 support Comment
We are on our way to target 1, should happen in the next hours
Comment
3814 level held and we are heading down againComment
Potential and most likely scenario
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.