christophercolumbus

christophercolumbus

This chart illustrates well the counter trend nature of the recent move up. Watch for continued resistance and the start of the down trend here.

christophercolumbus

Downward channel, downward trend-line, and 200 MDA all stating the trend is still down. Bias should remain bearish until prices prove otherwise.

christophercolumbus

Trend channel, downward trend-line, and 200 MDA all clearly state the trend is still down. Bias should remain bearish until the price proves otherwise. 5K target.

christophercolumbus

Same topping pattern... trend down.

christophercolumbus

Similar top pattern, looks to be rolling over once again.

christophercolumbus

Even if the downward trend-line is broken, a spike in price could just prove to be a bull trap as was seen last time. This year is a correction year.

christophercolumbus

The main difference of this correction is a much shorter time scale. Hence, in contracting the time frame, we can identify a combination of two points on the previous correction as representative of where we are in this correction. Notice that the first arrow points out a very similar pattern to now. The second arrow fast forwards to give an equivalent position in...

christophercolumbus

Good buying opportunities on the horizon here. Wouldn't be surprised to see a wave down to 5K in the next month or so. Notice that the price fully retraces from the initial launch pad to the spike. The final correction also equates to 25% of the spike.

christophercolumbus

Until the price breaks convincingly through the downward trend-line, then one should assume the trend is still down. Our 'bias' should be bearish, until BTC proves otherwise .

christophercolumbus

Bitcoin fully retraces to the 0.78 Fib level after each spike of the base line. This equates to a correcting price of near 25% of the top.

christophercolumbus

The major trend is down. After a corrective ABC wave up, expect now an impulse wave down with the potential to reach 5K. This could be THE bottom, where price will range sideways from there though still volatile.