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RE: BITCOIN: What goes up must come down...

in #bitcoin8 years ago

We've got almost the exact same view. I appreciated your chart, the theoretical ABC wave motion within the descending wedge.
I pegged $686 as the minimum bottom, if our yearlong trendline holds:
https://steemit.com/bitcoin/@chainsaw/bitcoin-technical-analysis-1-12-17-up-or-down

Of course it could go either way, but I think that the 1yr+ ascending trendline of support will win out over the shorter-term, reversal-pattern descending wedge.

Thanks again for the analysis - I'll be following you!