Bitcoin BTCUSD UnravellingBitcoin: BTCUSD Pattern Deteriorates Further
Ran a little ragged by late Friday night, the comment at bottom left was sent for upload but never went through the
system - slack service over holiday period, still very frustrating to lose a good short overnight, apologies.
Last night Bitcoin was running into the apex of a little triangle which was giving off conflicting shorter term signals, breaking
lower on lack of interest from far East (just as in US before it and London before that as Bitcoin skipped across time-zones).
All it's done since is give off negative signals and this is due to be a poor weekend ahead for bulls left standing in the way
here...a bear flag under recent structure tells us the little rally we have seen early in London is not to be trusted. Once
minor support at 12990 gives way Bitcoin is likely to fall away in stages back to 12617- 12490 and then, after a bounce, back
to 11165. And should 11090 fail to hold at any point over the weekend it will tip Bitcoin further into very negative territory,
forcing price lower still, to 10486 to start with and then, once this fails back to 8342.
