The rise and fall of Bitcoin

Jan 30, 2018

Here's EXACTLY the sort of confusing technical analysis that gets one into trouble. Aside from that, there are three confirming patterns between two different methodologies. The first is those hard to see letters - that's an Elliot Wave, which, in theory, should correct in a three wave increase from the 10K-ish bounce. The problem is, both the decline and the bounce are not only within the trend channel, the second (smaller) trend channel identified is increasing in slope.

I content that there is enough downward pressure on BTC that we haven't seen the end of the downturn yet.