As stated in my BITCOIN: BEARISH
ON THE MONTHLY CHART analysis, I am bearish
long term. However in this Weekly chart, bitcoin
is attempting a rally to complete wave (2). I don't expect the dashed RED line to be surpassed to the upside (that would invalidate the wave labels and would require a review of the wave structure). Wave (2) will likely end at $1010 level before bitcoin
falls hard in wave (3). A closer look at waves (1) and (2) will be posted soon.