BTC 3/5/18 6:27pm Take the Red Pill (10.2k) or Blue Pill (15.2k)
4hr chart showing a large rising wedge still within in the regression channel and climbing to an upper Fib level. If this were to break we are looking for a possible retrace down to $10,235, perhaps this will mimic the other shoulder on the 12hr chart with multiple touches downward before continuing the pattern. The 12hr chart on the other hand shows us this inverse Head & Shoulder that all of crypto has been watching for weeks.
What is the likely outcome?
While everyone expects this giant surge upward, why not play some games with the crypto community? Why not give one last dip downward? Is this what will happen? Only time can tell, but would I be prepared for this final blast to knock out a few players from the game, yes. If not now, then in a week or so we can expect this giant surge upward. Now again, be prepared for a multi-step and pieced out trend upward, it will not be one giant green candle.
Are we beginning our uptrend, very likely. Is there a chance at one more dip downward, also very likely.