CryptoGuy234

Bitcoin in a long term symmetrical triangle

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
bitcoin peaked at 20k back in Jan 2018 and it fell to as low as 3k by Jan 2019 and in July 2019 it went to 14k and immediately fell, so my theory is that bitcoin has been in a symmetrical triangle since as early as Jan 2018 that could last until late 2020 to early 2021
Comment: the first bottom was 1K and the first top was 20K, the second bottom was 3.3K and the second top was 14K, if my idea is true and this pattern continues the 3rd bottom should be 5-5.2K and the 3rd top should be 10K and the 4th bottom should be 5.5-5.7K and the 4th top should be 8.6k and the final bottom should be $6k and the final bottom should be $7-7.1K before it breaks out of this pattern and goes for a fresh rally
Comment: on the week of July 27th (on linear chart) we broke above the top of the Symmetrical Triangle

Comments

Great chart! Nice job!
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CryptoGuy234 elfavorito
@elfavorito, thanks, i have made slight edits on newer chart ideas, but it's all the same theory that a breakout would occur when we broke out of the top of the symmetrical triangle
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good job
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Your shitty chart is already negated with the recent break out. Go watch some more youube videos and learn what dollar cost averaging means.
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BrittTheIsh Tilly4Rilly
@Tilly4Rilly LOL, this chart was created 7 months ago. You act like it was just created...”already negated”.
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elfavorito Tilly4Rilly
@Tilly4Rilly, This comment aged well?
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CryptoGuy234 Tilly4Rilly
@Tilly4Rilly, in march 2020 we tested the bottom of the channel, and now we just broke above the top of the channel (9950 on linear) (10,500-10,700 on Log Scale), your comment has aged so poorly
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Very interesting! Thanks
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very good TA
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Interesting take on it...I have viewed it this way myself...I'm torn between this and Elliot Waves...If it's Elliot Wave theory that prevails then this is going past 20k sooner rather than later.
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