(!) BTC - The 2017 DEATH triangle or the 2017 GOLDEN triangle

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Exciting times turning into even more exciting times. Those who were already sitting on the edge of their seats are now about to really fall off. That chair is volatile-ishly vibrating beneath all of our bottoms on what seems to be a hint of an imminent earthquake knocking on crypto’s door. Those who are still sitting on that chair are asking themselves whether they will fall off or whether the chair’s legs themselves will break first, consequently cracking everyone’s ass. Bitcoin is closing in on a crucial turning point. It is once again UP. Or Out.

In that regard, we have a very large triangle staring us right in the face – waiting for our move. Will we start buying massively, or do the exact opposite. Either way, a triangle break-out is at hand. Now the ball is in our camp – how will we let this triangle be recorded into crypto history books? Will we name it the “2017 GOLDEN TRIANGLE”, followed by another amazing bull run? Or will we name it the “2017 DEATH TRIANGLE”, directly ensued by EVEN MORE blood in the streets than already is the case. Yes, that’s bloody. Maximum down so far in excess of a 70% correction from a $20K zenith to a nadir at $6K. Such a market reset makes even the largest stock market crashes start to look a little pale. And the next major support zone at $4K only, lurking at us – is awaiting our choice.

So… for the moment we have strong support at $7,4K more or less and we are still in a consolidation rectangle . We are approaching the decision zone of the triangle as well. We also have one additional support zone at the 78,6% Fibonacci which was already tested back on February 5th and November 12th.

The question is: Do we all wanna become crypto whales – or crypto rekt? The choice is ours. The choice is yours.

By the way - any name tagging alternatives?

- The Houdini / Crypto Bermuda triangle (previous gains evaporated)
- The Golden Bull triangle
- The Super Bull triangle
- ...

PS1 : No specific investment advice here, just philosophic contemplation. Has to be done too sometimes.
PS2: Yes, this doesn't provide you much investment advice, or... does it?

All the best & good luck in your trading endeavours
Mar 29
Comment: We are on a crucial rectangle support here guys. If we break it downwards, we can expect to see the price plummet by the size (height) of the rectangle...

Mar 30

Heikin Ashi doji on the trendline signaling a potential positive trend reversal - how exciting is this stuff ?! :-S :-D
Mar 30
Comment: No luck :)

still short term downtrend?
A_Cryptastic_Mind RobProesmans
Not really helped to make a decision to buy or stay away. These are already known, never the less we need technicals supported with fundamentals. Both are not available at your analysis.

generally I read your ideas with care, this time NOK.
@Shalafi, sometimes not taking any action is the best action. And remember that reacting is also acting. Have a good one!
Shalafi A_Cryptastic_Mind
@A_Cryptastic_Mind, nice advise. I will keep in mind. thank you.
+1 Reply
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