BTC - Bitcoin will be Back
Updated
Every bubble has to pop, and when it does on Bitcoin, it usually goes back close to where it had all begun. In this case, Bitcoin was within a bullish channel that lasted for 550 days, until it broke it up, went straight up for about three weeks, and now it's dumping.
So where is the bottom? Well, taking this channel into consideration, the bottom should be the previous resistance, which has now become support. The price of this support should be between 1550-1800 and the maximum date for this to happen is when the FIB resistance and the channel touch each other, around August 1st, date of the UASF. I am not saying it will happen in this date, but it won't be longer than it.
So where is the bottom? Well, taking this channel into consideration, the bottom should be the previous resistance, which has now become support. The price of this support should be between 1550-1800 and the maximum date for this to happen is when the FIB resistance and the channel touch each other, around August 1st, date of the UASF. I am not saying it will happen in this date, but it won't be longer than it.
Trade active
Another possibility which would actually take BTC higher.Trade active
More possibilities.Trade active
Keeping an eye on this possible bull flag fractal on BTC.Trade active
Possible breakout setup.Trade active
Updates will continue here:
Note
Seems we're approaching the first flag.
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