blloyd

#Bitcoin $BTC momentum reversal. Pitchfork trend-line support

BITSTAMP:BTCUSD   ビットコイン/米ドル
Look for a set of corrective waves. As long as the lower edge of the pitchfork holds the larger uptrend continues. This sort of RSI drop following bearish divergence indicates that the bitcoin price is in for a significant correction. I expect a bounce along the way before it finally bottoms between $4600 and $4400. It is best to set stops below this pitchfork. If it exits below the pitchfork I expect a test of $4150.
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