BTC Bearish Geometry
Updated
Here is a very bearish ABCDE triangle scenario for BTCUSD. This would be a near perfect replay of the 2013 crash. Will history repeat itself? I believe so.
I'm targeting around $1300 USD for the bottom, but I believe it could dip as low as $400 USD for a very brief period of time. Price should stabilize at around the $2000 USD level after breaking out of the triangle.
Disclaimer: This is not financial advice and I am not a financial advisor. This is merely my opinion and is intended for educational purposes only. All investments have risk and you could lose everything, so never invest more than you can afford to lose. Always do your own research before making investment decisions.
I'm targeting around $1300 USD for the bottom, but I believe it could dip as low as $400 USD for a very brief period of time. Price should stabilize at around the $2000 USD level after breaking out of the triangle.
Disclaimer: This is not financial advice and I am not a financial advisor. This is merely my opinion and is intended for educational purposes only. All investments have risk and you could lose everything, so never invest more than you can afford to lose. Always do your own research before making investment decisions.
Comment
BTC has just broken out of the triangle! However, this may be a bull trap, so I will need to see some price action before I adjust my call.Comment
My prediction stands. The jaws of death are opening: BTC will have 1 last nibble at 12k, and then drop to the floor. Good luck.
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