Bitcoin Pulled Back Into Line

After that little anomaly it appears Bitcoin has been pulled back into line.

If nothing else, this chart can act as a warning as to what may happen when something veers way too far off track.

Will Bitcoin get out of line again?

Yes, most definately.

Just be aware of the potential consequences.

This trend line may change in the future, but the concept is something to be aware of.

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This trend channel should also act as good indication as to where bottoms could be over the next several months.

The tops are expected to break the channel as before.

Bitcoin is not expected to go any lower than around $7800, which is inside the channel.

Anyone who says it’s going to drop as low as 4K is full of horse sh*t.

If it does drop that low, I’ll eat my hat. (And buy some more Bitcoin.)

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So much for 7800. Expect the unexpected.

Correction closed within channel. (At time of writing.)