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Bitcoin recovered
My last post discussed the final stages of the Bitcoin correction. In that analysis I was expecting the end stage of the correction of Bitcoin, mainly because it had served its days of the 65-daily cycle. Never did i expect the following events though.
The course I expected was failry simple:
- Bitcoin will find support on the horizontal line, and go sideways from there.
- Once out of the channel, we would shoot up again.
What actually happened was:
- Bitcoin broke support
- Crashed down to our last resort support
- Came back up as if the crash never happened
The current state at the end of the day is:
- Bitcoin is following our plan, but more explosive than expected.
- Bitcoin is back in the red resistance zone. Breaking this one would give us a target of 28k.
- I'm bullish!
The course I expected was failry simple:
- Bitcoin will find support on the horizontal line, and go sideways from there.
- Once out of the channel, we would shoot up again.
What actually happened was:
- Bitcoin broke support
- Crashed down to our last resort support
- Came back up as if the crash never happened
The current state at the end of the day is:
- Bitcoin is following our plan, but more explosive than expected.
- Bitcoin is back in the red resistance zone. Breaking this one would give us a target of 28k.
- I'm bullish!
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