BTC Correction Prior to Spoon

17 Eki 2017

It seems like BTC has found itself a long-term ascending channel. Last week, the price hit the top of this channel and was rejected. Recently, Bitcoin has found a narrow descending channel as it corrects inside the bigger channel. Prior to the fork, I think it's entirely plausible for Bitcoin to reach below $4850 before any major bullish momentum. This is purely for speculation and sharing. I'm not trading based on this idea as I generally avoid shorting Bitcoin.