NEW PATTERN SPOTTED IN BITCOIN

The right-angled and descending broadening formation has been spotted in Bitcoin. According to Bulkowski, the chart pattern is the ‘worst performing chart pattern in a bull market’.

Three scenarios are labeled:

Minor Retracement of the +60% move, then 1.618 3687 projection
Hard Retracement of the +60% move, then 1.618 3687 projection
Complete reversal 1200-1600

![2017-07-23_08-02-15.png](https://steemitimages.com/DQmbMN395FipiQviUwhbrDenYntRK48sRwrjs5Kiu4YdtSo/2017-07-23_08-02-15.png)