Quote from: Bossian on July 20, 2020, 10:42:45 AM

I would never take a long position right now, bears are still in control.

As far as the weekly and monthly charts go, neither bears nor bulls are really in control. It's a tight 2 month range that could easily break in either direction. With the stock markets continuing to push new highs, I wouldn't write off the bull case.

Quote from: Bossian on July 20, 2020, 10:42:45 AM

If you look at Bitcoin price since the all time high, there is a giant ABCDE wave which would make Bitcoin price go back to $6500, coincidentally this is a very big support too.

Like I've said before, EW patterns like that are only reliable in hindsight, after they are fully formed. We haven't even confirmed that the run to $10.4K is a D wave.

I still like the triangle scenario but it's far from set in stone. Just one possibility to keep in mind, really.