Bitcoin Hot News
Bitcoin managed to touch the 5th arc pair of resistance on the 2-
Since then it managed to re-
However, while we were issued a sell signal at the touching of the 5th arc at $1050, we have not had another sell signal since then. When/if we see a close below the 1st arc (blue) and/or a close below the 1st square ($1002), we will have another sell signal.
Conversely, when/if price gets through the 5th arc on the bull setup (labelled), we will have a buy signal.
As I continue to believe that a 3rd wave of the correction that began Jan 4th must complete before the next leg of the great rally of 2017 can begin in earnest, I harbor a suspicion that prices will get to the lower end of the range before a buy signal is generated.
However, I am not one to argue with the markets. If price clears the 5th arc pair shown above, and a buy signal is generated sooner rather than later, I will happily give up my bearish thinking…
Remember: The author is a trader who is subject to all manner of error in judgement. Do your own research, and be prepared to take full responsibility for your own trades.