theeverythingbubble

BITCOIN Warning: Everyone suddenly bullish

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BITSTAMP:BTCUSD   比特幣
After dropping suddenly to the mid 3’s and then rebounding above 4 everyone all of a sudden calling the end of the bear market. Bearish pennant about to breakdown; Bitcoin wants to reach the bottom of the channel: $3k looks like it is our next stop. Also, the pattern we are currently looking at does not look like a bottoming pattern to me; maybe a temporary stop but not a bottom. Looking for capitulation with a large volume reversal to the upside. Let’s see what happens :)

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