Bitcoin Might be in Trouble
Forming yet another Descending Triangle with all the previous ones being true to their targets (or close to true with the most recent one coming short by about $10 so far). The most resent one drawn as of today is suggesting a target of $270-275 over the next 2-4 weeks.
This might be an ugly start to 2015, but hopefully we can start drawing these triangle the other way in the near future.
As a possible less likely scenario of the Triangle breaking out to the upside, look for a move back to the 50-day SMA for an exit or an opportunity to short.
Full analysis can be found here:
cointelegraph.com/news/113215/bitcoin-analysis-week-of-dec-28-year-in-review
Good luck traders.
This might be an ugly start to 2015, but hopefully we can start drawing these triangle the other way in the near future.
As a possible less likely scenario of the Triangle breaking out to the upside, look for a move back to the 50-day SMA for an exit or an opportunity to short.
Full analysis can be found here:
cointelegraph.com/news/113215/bitcoin-analysis-week-of-dec-28-year-in-review
Good luck traders.
Tone Vays - Content Creator & Derivatives Trader
Web Site: ToneVays.com
Twitter & IG: @ToneVays
YouTube: YouTube.com/@TheFinancialSummit
Event: TheFinancialSummit.com
Conf: Unconfisctable.com
Web Site: ToneVays.com
Twitter & IG: @ToneVays
YouTube: YouTube.com/@TheFinancialSummit
Event: TheFinancialSummit.com
Conf: Unconfisctable.com
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