BITFINEX:BTCUSD   Bitcoin / Dolar
239 2 1
AB=CD is a bearish pattern

After the impulsive down move from last week i do expect a bearish reserval in case we will reach point D from here, in case it happens i expect at least a 50% retrace from AD.

In case the price will stabalise just below point D and rest there for a while i would not short D anymore because often it just breaks. In case it will break i do expect a re-test for either enter a long or remove the short.
Komen: D is holding as a support but also the price is accepted instead of rejected.

Bulls want to do business at higher levels from here.
Komen: Just like the chart whas telling us, the green scenario is the most likely.

17500 is on the radar!
Komen: well well well... orange is the new green i guess

imho the bigger picture weakens if this thing falls below 13000
So does this mean that it is doing to get bearish now and retrace to 13.4K usd
Balas
@midas0906, Since the price is holding here for a rest just below point D without touching expect this bearish pattern will fail
Balas
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