LewisGlasgow

Bitcoin - Price Structure

BITFINEX:BTCUSD   Bitcoin / Đô la
Traders I hope you are all well, today I'm presenting the basic price structure of bitcoin             and what I see happening in the near future.

Dropping down to the 30m chart we can see price formed a symmetrical triangle at the market low, followed by an unexpected impulse on the 12th of April 2018. This was followed a brief period of advancement and now a break to the downside which indicates a short-term correction ( bitcoin             at present).



The extent of this correction can be measured as price develops, right now this is the two paths price will likely take.



As mentioned, wait for further price action to unfold to dictate short-term direction.

I'm currently in the process of producing a new article (relevant to my previous cyclical analysis) explaining how altcoins are now advancing into their first stage of a bullish cycle, this will be posted in the near future for you all to benefit from.

I didn't want to drag out this post, it's fairly simple to understand even for the novice analyst.

Thank you for your support!
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Hey mate

Seems like we are on the same page on this one

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this is how i see it
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Good to see you master
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Nice analysis as always!
A view of the retrace on the hourly:

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@Grimland, I appreciate that, good to see we have a similar view!
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renkcub Grimland
@Grimland, Good chart. i came up with similar. 7800 may hodl.
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Thanks for breaking your silence.............u really ignored your follower.............
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Lodestar raheeltag
@raheeltag, he does this for free u cunt
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@raheeltag, my apologies, at times trading, business and life get busy, just like everyone else :)
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garyuws raheeltag
@raheeltag, The sense of entitlement is strong with this one.
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