Bitcoin (BTCUSD): On The Edge

8 sept. 2017

A massive sell-off in Bitcoin today caught some people by surprise. My goal is to present a specific criteria for trend change in this market. In my view, the break of $4236, which is a cluster of the pitchfork trendline and an important fibo-level would lead to more selling and confirm that the market is in a correction mode. Downside targets are drawn on the chart.

9 sept. 2017

Note

To illustrate my logic further, on a smaller-degree chart:

14 sept. 2017

Trade fermée: cible de profit atteinte

Main target $3700 has been reached.