As I predicted, bitcoin has completed a re-test of the big broadening wedge formation. The monthly candle closed just below the trend line, exactly in no-man's territory. As for me, this means only one thing - further declines.
The next stop is somewhere around $12,500-13,500 (TP1). There is a chance that this will be the real bottom, although as you can see on the chart this price only marks the middle of the big downward channel below. Hence, I conclude that the real bottom will be revealed only in December (TP2).
The next stop is somewhere around $12,500-13,500 (TP1). There is a chance that this will be the real bottom, although as you can see on the chart this price only marks the middle of the big downward channel below. Hence, I conclude that the real bottom will be revealed only in December (TP2).
註釋
It looks like bitcoin has once again tried unsuccessfully to overcome the upper band of the downward channel it is currently in. Well, I think we will already see a nice red candle at the end of this week.
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