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RE: TA: Bitcoin Correction Is Over, Price Projection 49225$ By May
Looks pretty much bang on with the Chinese New Year, CME futures rollovers, extremely overbought conditions, Wallstreet accumulation and seasonals. This is a textbook correction pattern and really good buying opportunity all the way down to 8000.
If prices crash to 8000 and the CME futures are halted. The perfect bear trap would a sharp bounce off the lows thus trapping all the shorts to cover when the futures are reopened. Such a move will be absolutely spectacular! Just a hunch and I'll be watching closely.
check this new post making the opposite argument https://steemit.com/bitcoin/@drumsta/crypto-market-cap-forming-head-and-shoulders-pattern-are-the-markets-going-do-go-down-further