Recent days have been a wait and watch brief on BTC/USD as an inner wedge has formed (white trend lines). Today we broke out of that wedge with a bearish movement and currently we lie almost perfectly on the 50% Fibonacci retracement. If we break the Fibonacci 50% then there is a possible opportunity to short as we could be headed to the bottom yellow trend line and 61.8% Fibonacci retracement. Price target 8,000 USD.
It’s not the end for Bitcoin lovers as we could see another huge bullish wave in the future but for now the bears are in control and shorts are piling in (check out your BTC/USD Short charts).
It’s not the end for Bitcoin lovers as we could see another huge bullish wave in the future but for now the bears are in control and shorts are piling in (check out your BTC/USD Short charts).