Hello Fellow Traders,
These are early days on this chart pattern, but there seems to be a consensus building among analysts that there is going to be a drop to 8,000. My cut goes a little deeper.
BTC appears to be forming a symmetrical triangle. The widest part of the triangle is between $10,774 and $16,495 ($5,721 delta) When it exits the symmetrical triangle it should fall by roughly this amount. I predict this will happen around $12,352. This gives us a target of $6,631.
In the short term there is bullish divergence on RSI, MACD and AO. Additionally, we are on the 9 for TD Sequential. I believe this might have enough in it to bring us to the low 14,000s. This might be the best place you will get to exit a position or for a short.
Ethereum built a simular pattern from it's fall from 400 to 200. Of course, Bitcoin can also rise from this (and make a fool of us), but I would consider this to be a bearish continuation pattern.
Good Luck and god speed.
These are early days on this chart pattern, but there seems to be a consensus building among analysts that there is going to be a drop to 8,000. My cut goes a little deeper.
BTC appears to be forming a symmetrical triangle. The widest part of the triangle is between $10,774 and $16,495 ($5,721 delta) When it exits the symmetrical triangle it should fall by roughly this amount. I predict this will happen around $12,352. This gives us a target of $6,631.
In the short term there is bullish divergence on RSI, MACD and AO. Additionally, we are on the 9 for TD Sequential. I believe this might have enough in it to bring us to the low 14,000s. This might be the best place you will get to exit a position or for a short.
Ethereum built a simular pattern from it's fall from 400 to 200. Of course, Bitcoin can also rise from this (and make a fool of us), but I would consider this to be a bearish continuation pattern.
Good Luck and god speed.
Trade active
Inching closer to our local target.Note
Next candle decides it all. Right now it is a bearish continuation pattern.Trade closed: target reached
Look like we reached out target. Good Job me. Weeeeeeee
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.