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RE: Bitcoin (BTC) Evening Update: A Wedge Embedded Within a Wedge

in #bitcoin7 years ago

Nice and challenging post @haejin.

  • "Bulls" are saying $ 9.600,-- with no path showing after that.....
  • Bears are saying max to $ 8.800,-- as the latest top, then a down movement. Somewhere a panicsale has to start.

In my opinion we're still in a bear market where no panic sale is gonna take place. We're just squeezing out btc softly and are gonna get used to lower levels each time btc reaches it. We already got used to this 8500 area. After that we're gonna get used to the 7500 area. After that we're gonna get used to the 6500 area.................ending somewhere.

Eventually we're gonna see one of @haejins famous cups forming with a long nice bottom. Don't be surprised if this bottom takes 9 to 24 months or even longer!

Just go to Tradingview.com and type the letters AMZB in the top left and push enter. Than put it on a weekly chart and go back to the 23th of july 2001. That's exactly where BTC is right now!