An old BITCOIN idea played out and now, we could see a recoveryBitcoin / U.S. dollarBITSTAMP:BTCUSDOrriginal I posted this idea back in early October and, as we see, the bearish W patter played out. We had had an earlier Bullish W patter ( or Dounle Bottom) The chances were PA would go either way on the 2nd and the Measured moves are shown with Vertical lines. As you see, we went to nearly exactly the RED Bearish Measured move this time And so now, we can expect what ? The Daily MACD The Daily MACD Fell Deep into OverSold and has been recovering, is still below Neutral. Lower timeframes are also below Neutral so the ability to push higher exists Daily Volume Delta Volume Deltais an indicator that analyzes intrabar volume and price fluctuations to estimate the difference (delta) between buying and selling pressure within each chart candle We can see that Selling is reducing since Mid October and that The Green Candles show us that Buying is picking up. We will very possibly have to wait till we get the inflation figures for the USA later this week, before we get a real move. There ismore than enough ability to push higher again but a Drop down to the 70K area is also possible.. Remain cautious for now...... Till we get a clear signal.