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Bitcoin to $9,400 then Back Up to $11,000

BITFINEX:BTCUSD   比特币/美元
Bitcoin             ( BTC             ) has been fairly predictable within it's channels recently, and this is no exception.

The bad news is that we're currently at the top of this channel on a downtrend WITHIN the channel (although the overall channel is in an uptrend).

The good news is that we entered this channel from the bottom on a trend upwards, which means we are likely to breakout of this channel to the upside eventually. However, chances are, that day is not today and we should see a revisit to the bottom of the channel ($9,400) before we hit the top of the channel again ($11,000) and likely breakout of it.
"You must be shapeless, formless, like water. When you pour water in a cup, it becomes the cup. When you pour water in a bottle, it becomes the bottle. Water can drip and it can crash. Become like water my friend"

― Bruce Lee
I was very wrong here. I think the mistake I made was that I failed to identify the shift from a bear to a bull market. When Bitcoin is bull, the return-to-all-time-high from a correction is accelerated. Noted for future ideas I publish.
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