likely to break north only to begin another pattern then still plat out the big ascending triangle pattern
Im seeing an ascending triangle inside a much bigger ascending triangle
i try to look for the next pattern before it has formed and this looks likely to reach the .618 fib retracement then come down to meet the trendline from the 2 last low and higher low.
i try to look for a pattern before it is fully developed
i will sell set a sell order at 6490 expecting a bounce/rejection
BTC since dec 15th started the parabolic curve and has continuously broken the bottom trend line
the yellow line is the 700 day or 100 wk ma.
if it follows the 2015 pattern and actually a normal scenario, it will hit the 100 wk moving average and then pull back probably all the way back to the 50 wk since i dont think it will go back below it. however anything is possible of course and as unlikely as it is to break back below the 50 wk, if it does i think it will go down and back up very fast, it wont...
typical move just like in 2014 and 2011 it will test the 50 wk ma get rejected then break through and come back down to retest it for support then aim for the 100 wk
i think it wants to retest the 200 wk ma but it stop at the lower trendline