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Saturday, August 15, 2020

Alone At The Party BTC/USD pitchfork #Bitcoin #btc #crypto

Alone At The Party BTC/USD pitchfork #Bitcoin #btc #crypto

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

Bitcoin hasn't actually closed above that purple middle pitchfork line since 2018 . We've bumped into twice now , in 2019 and just recently . That's called a Schiff Pitchfork and I find it does seem to fit certain charts , it fits bitcoin pretty well going straight back to 2018 , so perhaps this pitchfork has some staying power . Whilst closing above that purple line where the red flags and red arrows are would be a bullish sign for continuation , it has not happened yet . Our last volume spike was about a week ago . I've said before that I expect Bitcoin might wick up to 12400 area or even 13k area but since we've already had quite a rise since March dump- I would really be expecting a hard retrace at some point after that or soon . I seem to be "Alone At The Party " on this one though . As many others on here are bullish for 17k to come in weeks or by end of year . I am not expecting that high a price this year . And although I'm long-term bullish I may be mid-term bearish since I'm really expecting 5k area next year in 2021 ( with possible spikes lower .) But again , I seem to be Dancing With Myself here on this one as everyone else is crazy champagne guy .

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