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Bitcoin / TetherUS
Short

Bitcoin Trade Target

By JoelRBishop
Updated
Bitcoin has broken out of consolidation to the downside. Using the flagpole to flagpole method gives us a trade target of about 16k!

Good luck
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Bitcoin Daily Analysis
 Previous analysis from earlier this morning
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The Fibonacci Extension Tool shows the 16k area as the 2.414 extension from the initial pivot of the downtrend snapshot
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Looks like we fell out of the triangle on the 3 day chart snapshot
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Looks like plenty of downside ahead on the Volume Supported Linear Regression snapshot
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Bitcoin Prediction
Bearish PatternsBitcoin (Cryptocurrency)breakoutBTCChart PatternsconsolidationTechnical IndicatorsshorttargettradeTrend Analysisxbt
JoelRBishop

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