BitcoinLong
The decisive triangle
Updated
BItcoin has developed a triangle that is about to finish. An attempt to break upward the upper line occurred just before the hard fork, but the uncertainty kept people in a expectant stance, ready to take positions. Now, the battle has ended and the war is close to its end. This final triangle may break upward as a consequence of the new trust and support in favour of Bitcoin, the real brand and standard bearer of cryptocurrencies. All the doubts and mistrust resulting from the looming hard fork menace are vanishing as the tokens in the forked blockchain are exchanged for less risky alternatives. USD is losing value, so one of the best alternatives is Bitcoin.
A downturn on BTC is only expected if the forked BCH climbs up to $2000 in less than 2 days. This is extremely unlikely due to the top generated around $800, which traders will take as a good target to sell their BCH tokens. Beyond that period, those tokens will burn on the hands of their holders as soon as the support to Bitcoin is confirmed.
If the triangle breaks upwards, the new target will be ~$4000, with possible spikes up to $5000.
A downturn on BTC is only expected if the forked BCH climbs up to $2000 in less than 2 days. This is extremely unlikely due to the top generated around $800, which traders will take as a good target to sell their BCH tokens. Beyond that period, those tokens will burn on the hands of their holders as soon as the support to Bitcoin is confirmed.
If the triangle breaks upwards, the new target will be ~$4000, with possible spikes up to $5000.
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The resistance at $3000 has been broken as was predicted. Now the next objective, according to Fibonacci's levels is $4000-4200 with possible spikes up to $5000 if the "fear of missing out" makes the money to concentrate on BTC.Trade active
The strong momentum is leading BTC beyond $4000, probably up to $5000.
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