Bitcoin update 24.feb.18, Breaking my TA down in D.Tube video
Here is a screencapture of the last weeks price movements in Bitcoin at Hitbtc, resulting in my last chart from 2 days ago broken.
BTCUSD_ 9999.19 ▼ — Breaking my TA video
This is first time I use d.tube, and after a couple small hickups I finally made an upload.
The inverted HS in the face of Bitcoin never fulfilled, and the correction fit well into an ABC, the usual type after a full 5 waves up. I expect bottom to be reached around $8,200.
These are just my thoughts, not a trading advice.
If you have another view on this charts your welcome to discuss and post your charts in the comments.
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We might be going down to 5k this time?
I don't think we'll have a lower low as we had a full 5 wave up and both proportions on the waves and fibonacci indicate $8,100 to $8,400. Most likely we are in a 2. wave correction of a larger degree bull cycle.