As you can see by the circle on the graph. We have FINALLY broken the bearish channel created by the 20k to 5.8k bear run. Congratz if you survived. RIP to those who dropped their bags. ALL ENGINES ARE A GO!!!
This is what I see, a "Rectangular Top" which would indicate a reversal in the trend. This would make sense as we powered through to almost 11k extremely quickly BUT we all see what we want to see. Wait for the confirmation before acting. Good luck to you all.
Bitcoin has made some amazing gains these past few days. A cup and handle to position us for the breaking of 9k and upward. However, with every up there comes a down. Bitcoin has stretched out and grabbed peoples imaginations as to how bullish it is. Bitcoin will correct to a 9k location. Now, is the proper time to consider shorting the big daddy.
We encountered a dead cat at around $9k where we should of encountered the bullish trend line from the previous two corrections (don't look like much now a days, perspective is everything). Now we are testing the support/resistance of mid-October to November (upper pink line). There is a considerable amount of support here. The next support will be approximately...
Those of us who know, know the squeeze has always been real. We will dip under the support from the last 2 dips and the thrusters will take us to an unimaginable place.
It seems as though the engines have been tested for a rocket to ATHs on Bitcoin. We shall see if they will ignite to a real attempt. Projected date: 1/10/18
JUST A THOUGHT I'VE BEEN PLAYING WITH FROM WHAT I HAVE SEEN LATELY. PLUS, WITH FUTURES COMING OUT AND NOT REACHING 20K IS A BAD SIGN TO ME. I BELIEVE IT WAS BAKED IN ON THE FIRST SET OF FUTURES. IF YOU WERE GOING TO PLAY THE FUTURES MARKET AND YOU ARE AN "EXPERT" WHY WOULD YOU NOT BUY THE UNDERLYING ASSET RIGHT BEFORE YOUR FELLOW EXPERTS ARE ABOUT TOO?
