30 Jun '17, 2am

Bitcoin Price Analysis - SegWit looming

The median line (red) of the Pitchfork gives the expected mean of the trend. Price will continually attempt to return to this diagonal. Each diagonal of the Pitchfork can be thought of as a potential reversal zone or support/resistance line. The upper yellow diagonal zone being ‘most overbought,’ or the top bounds of the trend, and lower yellow diagonal zone being ‘most oversold,’ or the bottom bounds of the trend. The multiple price touches of the diagonals thus far suggests the Pitchfork has high validity, therefore, traders can project the trajectory of future price with a reasonable degree of certainty.

Full article: https://bravenewcoin.com/news/bitcoin-price-analysis-segw...

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