BTC to Correct Soon: MicroAnalysisMicroanalysis: "Forest for the trees but the trees still make the forest"
BTC bulls are petering out on momentum and volume in the short-term and just double-topped, failing a wedge breakout. While the wedge could still break to the upside after a small pullback, it still probably wouldn't see much traction as numerous indicators point to a correction soon.
A retracement to the 161.8 and 50% fibs shown here would give bulls the most healthy pullback to slingshot them higher. To check out the other reasons for this, see my other recent analyses for BTC.
