Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
A correction which was due, but triggered early by Finex panic, perhaps. Either way, up from here.
Not so fast, a correction like this is not resolved within a day. I expect at least a double bottom and perhaps a deeper correction to $610 level or $570. Could take 2 more weeks or longer before we resume the uptrend.
Typically, the market builds a triangle that breaks up. But I believe that mini-rally will become a bit of a bull trap.
You always believe the price will fall or any rally is a bull trap. We are at $679 dollars Tzupy. You were bearish at 200$ :-)
Because fundamentals. The implosion is not a question of if, but when.
That said, we might see a bit of an upblip today, but down below current price within 48hrs.