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BTC/USD: Seeing a Lower Drift
Bitcoin initially rallied a bit during the trading session on Thursday but gave back those gains as we continue to look a little bit soft here. In fact, with a little bit of imagination, you could even suggest that we are in the midst of forming a head and shoulders pattern. It's a sloppy one. It's not necessarily one that I'm overly excited to take as a short trade, but it is something worth paying attention to. That being said, I'm not shorting Bitcoin anytime soon. I think this is a situation where maybe we just got a little ahead of ourselves and now we have to work off that froth. In fact, that's what I've been ... (full story)
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