Two possible routes for Bitcoin
Updated
Route 1: double top at 9700
Route 2: new high (probably break 10000) and sideway for a few days then crash (the bar pattern on the right are the rally after Bitcoin broke log-chart triangle in 2014.
So short-term still bullish until 9700. I don't think it will go higher than 10600.
Route 2: new high (probably break 10000) and sideway for a few days then crash (the bar pattern on the right are the rally after Bitcoin broke log-chart triangle in 2014.
So short-term still bullish until 9700. I don't think it will go higher than 10600.
Note
The second top is much lower than I expected. Now it is moving to 8700-8800 level to find support.Note
This could also be a preparation for 10k pump if you read it as a huge bull flag on day chart. The decreasing of red volume makes it looks like a bear trap. Anyway, still need to wait more to confirm.Note
Although it breaks to the upward, the huge selling pressure keeps it below 9300. This is not a trading zone.
We don't trade patterns. We draw them.
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