#Bitcoin technical analysis

There has been some fud lately with stolen Bancor tokens and whatnot, but this is noise. Bitcoin failed to break 6800 resistance and crashed down quite hard. It's a long shot but it has now formed what it looks like an inverse head and shoulders (powerful bull signal). Obviously we'll have to wait a few days to see how it plays out and break that 6800-850 area to confirm bull run. I wouldn't advise being in a position until that area breaks.

Right now bitcoin formed some bullish divergences on larger time frames and i'll be monitoring it closely to see where this leads us. Certainly i expect a spike up to 450-500 area before possibly continuing down. Thread alts carefully.