Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

There is a large triangle formed during the last 4 weeks, it should break one way or another in less than a week.
If it will break up, it won't go far IMO, but could form the wave 1 of a new rally.
But if it will go up nicely, close to 750$, then correct, then this would be very bullish IMO.

Did you hit your head, Tzupy?

You are coming off as a bit more bullish than usual. Shocked

Getting anywhere near the $700s would be a nice little treat for us "hanging in there" for the past couple of months, including the early August crash.

No, I didn't sustain any head or other injury. But it's nice of you not to accuse me of selling my account to some permabull... Cheesy

I didn't say that it will break up, although I lean that way. I suspect that most of Chinese pump money is still on exchanges and could be put to use soon.
While it won't break the 790$ of June, a near future bullish development could strengthen the case for a larger bullish scenario.

Hehe, BFX decided to break the triangle sooner, and others try to follow.