And finally the 2017 end downfall scenario is on the agenda again
The way the price has been climbing up towards 57K since last Thursday proves to be very exhaustive one: as in December 2017 on the daily chart we can see the rising wedge which was generated within a trap above 51500. Thus the overall picture suggests a very large correction channel to the previous rise of 55000 dollars (until high of the 14th of April). Therefore, we are likely to see a very deep downfall towards the break of the lower border of the channel – below 20K or even 16K – and that will be the condition under which the price will turn around to the hill of 110K & higher. The 3rd swing low points of the 2 core support lines – May 19-June 22 & September 7-September 21 – will work out properly as the necessary condition for the rise as well.