Bitcoin failed to breakout and created a double top. This is moderately Bearish, and will possibly lead Bitcoin into correction territory. The failure to breakout will keep both counts valid. The Bullish count would argue that this is an ABC correction as part of a Greater Wave 1-2 rise higher. The Bearish argument would cite that the failure to invalidate the Wave I-II decline count could see price action decline below the previous $6K Bitcoin price low.
News:
Nouriel Roubini Calls Blockchain 'Overhyped Technologies':
Cryptocurrency Market Erases Yesterday's Gain:
https://www.ccn.com/cryptocurrency-market-erases-yesterdays-gain-ripple-drops-11/
Bitcoin Bullish Count - correcting into a possible ABC correction pattern
Bitcoin Bearish Count - correcting into a Wave iii
