Still room for bitcoin to pop.

8 בינו׳ 2019

The rejection from 4100 was extreme but it was bought up in the 3900s as quickly as it was sold down. I see this as the market punishing greedy bulls and establishing a pattern for them so that they don't long the next breakout above the triangle resistance. The 3day and 1day charts are still in upward mode and pushing this, however, this could change if we stay sideways for too long. My best guess is that the price will meander for a day or so inside the triangle before trying to break out of it again, this time at a lower price point - around 4040-4050.