Bitcoin trend outlook

Red triangles: Rising wedges breaking down
Critical support: Reversal level for last bitcoin crash. 68.1% retracement of 2015-2017 bull market. 78.6% retracement of march-september bull market.
Doom level: below this most miners will be mining at loss, only bad things below this price. 78.6% retracement of 2015-2017 bull market
Green line: 2013-2014 bubble top
Pink lines: nearer resistances, so potential short entries
Dashed black lines: nearer supports, so potential short covering/buying levels. They are more or less 38.2% and 50% retracements of the 2015-2017 bull market. They also are 50% and 61.8% retracements of march-september bull market

Yorum:

Doom level is also 2013 ATH btw

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First selling oportunity

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Round 2 of shorts being filled right now

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adjusted some lines and levels.

even if this target (2500-2220) would break the channel it would match perfectly with the 2013-2014 top fractal (green line in the main chart)
As time passes i see more and more possible this target, specially with all the fud with china crackdown on bitcoin (potentially even bitcoin mining), segwitx2 contentious hardfork, bitcoin cash holding its price...

Yorum:

Weekly macd crossing down

Doom and gloom incoming?