Bitcoin trend outlook
Updated
Red triangles: Rising wedges breaking down
Critical support: Reversal level for last bitcoin crash. 68.1% retracement of 2015-2017 bull market. 78.6% retracement of march-september bull market.
Doom level: below this most miners will be mining at loss, only bad things below this price. 78.6% retracement of 2015-2017 bull market
Green line: 2013-2014 bubble top
Pink lines: nearer resistances, so potential short entries
Dashed black lines: nearer supports, so potential short covering/buying levels. They are more or less 38.2% and 50% retracements of the 2015-2017 bull market. They also are 50% and 61.8% retracements of march-september bull market
Critical support: Reversal level for last bitcoin crash. 68.1% retracement of 2015-2017 bull market. 78.6% retracement of march-september bull market.
Doom level: below this most miners will be mining at loss, only bad things below this price. 78.6% retracement of 2015-2017 bull market
Green line: 2013-2014 bubble top
Pink lines: nearer resistances, so potential short entries
Dashed black lines: nearer supports, so potential short covering/buying levels. They are more or less 38.2% and 50% retracements of the 2015-2017 bull market. They also are 50% and 61.8% retracements of march-september bull market
Comment
Doom level is also 2013 ATH btwComment
First selling oportunity
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Round 2 of shorts being filled right now
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adjusted some lines and levels.even if this target (2500-2220) would break the channel it would match perfectly with the 2013-2014 top fractal (green line in the main chart)
As time passes i see more and more possible this target, specially with all the fud with china crackdown on bitcoin (potentially even bitcoin mining), segwitx2 contentious hardfork, bitcoin cash holding its price...
Comment
Weekly macd crossing downDoom and gloom incoming?
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