My rendering of ArmstrongEconomics chart that he published on May 14 2018. We have broken weekly support and need to retake 8000 to invalidate the pattern. Support at about 4500
Commento
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This chart is an updated version of the above one. I have added another descending parallel which could bring us to our target this week. We need a bounce to enter with a long position
Trade attivo
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Updated chart with lines extended. Note that there is now a larger divergence in price between Bitfinex and other brokers than before
Commento
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I have placed a new Andrews type fork over the price action. I have extended the original lines now in orange. Await support at purple line current price or solid orange line beneath
In January I estimated a $4000 bottom. Now I think that we may hit $3000
As I have stated many times on my other BTCUSD posts. The pattern is very similar to Gold and Silver. We may even get a rounded bottom and not a quick reversal like Feb 5-6 2018
A slightly less bearish scenario