Andrew's Pitchfork Suggesting Downside Breakout

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
The median line on andrew's pitchfork has a high chance of being hit once a fork is formed and moves significantly toward the median.

The last time it swept the range of the triangle and made a pitchfork it hit the median line at the same time it hit the bottom of the triangle.

With the most recent triangle range sweep the median line is below the bottom of the triangle so it will have to break the downside support line to get to it.

So I am still trading with a bearish bias on alts and waiting for a large pullback on BTC before looking for longs.


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