BitcoinLong
BTC/USD Long Setup 9th November: Scenario 2
This is the more bearish scenario, looking for a correction back to the bottom of the wedge (chart plotted on a log axis) around $4900 - if this happens very fast (e.g. loss of confidence in another Mt Gox scenario, see Tether/Bitfinex'd issue), then this would line up with confluence of fib support from the last two lows.
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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.