/biz/ - Business & Finance

Quick and dirt BTC/USD analysis (data from BFX).

You can see we broke out of major channel in the last few hours. This channel kept going since the latest dip @ ~1970 some day ago. The trendline on the bottom is the major uptrend trendline and has been going on for almost two weeks, since ~1700. If that trendline gets fucked, sell everything. If the trendline holds, there might be a recover.

Meanwhile check out the mid-term fib retracements between the 1970 dip and todays high. Those are valid levels to scalp right now and watch out for (see how the big dip exactly ended at the 2250 retracement).

My personal opinion is that BTC is fucked and has no future. We'll wait and let the market decide. Good luck everyone!