Symmetrical Wedge Pattern in BTC forming
Updated
Predicting BTC will continue to move in wedge, flag, and pennant patterns by forming this giant symmetrical wedge. breakout of wedge either direction with volume and it should fly to retest the .618 retracement of all time high to recent low around 13400. Funny the timing of all this lines up perfectly with Iran, Facebook, the Fed, the uncertainty of money. Bullish bias but the lack of volume is pretty insane compared to what is happening in the crypto bubble. Don't worry, Facebook will be introducing it to billions in January, months before the halving. Earlier at bottom of the wedge volume came in out of nowhere to prop it up. Retesting here very soon.
new to annotating and goofed up thinking it saved snapshot. oh well here is my future doodle! makes alot of sense though. retest .618 and fail hard down to 9800 then wedge and climb to 16k then honor mirror of symmetrical wedge which takes it to key levels. was trying to stretch it out till it is testing all time high in december. 12500, 13400 (.618), 9800 fake out while setting up the timing for an end of the year rally into FB Libra 2020. By early 2020 100k price target.
new to annotating and goofed up thinking it saved snapshot. oh well here is my future doodle! makes alot of sense though. retest .618 and fail hard down to 9800 then wedge and climb to 16k then honor mirror of symmetrical wedge which takes it to key levels. was trying to stretch it out till it is testing all time high in december. 12500, 13400 (.618), 9800 fake out while setting up the timing for an end of the year rally into FB Libra 2020. By early 2020 100k price target.
Note
nailed it so far except I thought they might run it up to the fib retest one more time before kissing 9800. Now it will possibly form a bullish wedge holding the 9800.Note
glad it didn't run up first because 9800 was key for our flight back up but this thing is going to need some volume. wonder what catalyst are aheadNote
pretty dead on for a chart drawn two months ago
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