Bitcoin Correction Was Sharp but (Too?) Short-Lived

Bitcoin fell sharply a few days ago, just hours after we warned of this likelihood in the last column.  The fall was dramatic but stopped much sooner than I expected.  I have spent the past few days looking for either a sign the fall was about to resume, or that the bull market would resume instead.

First, I note that the 2-hour chart shows a bear setup as follows:

After a long rally from the swing low, the market fell sharply upon reaching THE END OF THE 4TH SQUARE IN TIME. It found support precisely at the 2×1 Gann angle and the bottom of the 2nd square.

That support would be found there would not be a great surprise, but still, it seems “not enough” of a correction.  I have been waiting for the next shoe to drop, but to date that hasn’t happened. Instead, the same 2-hour chart has a bull setup as shown below:

Read more ... source: CryptoCoinsNews

Let's block ads! (Why?)

Powered by Bitcoin Central