Based on the history of bitcoin after negative news btc always drops to consolidated value. It's no different with the segwitx2 cancellation, it's just this time the consolidation has past it's initial low point and is now moving towards the second phase. There seems to be a nice upward triangle wedge every time after initial low. And the total recovery time from previous high takes around a month or so. Be on the lookout for a short to 6500 and ATH close to new years.
Kommentera:
my first chart. and yes it's messy but the idea is clear. Upward wedge from every low point and short to half of the bounce.