I believe that BTC is now range bound between 3200-3700 for the next couple of weeks. The triangle that I've drawn is where I expect it to break to the down side once it's reached the end of the pattern. I'll be pacing some buy orders around the 3200 level to catch maybe one more rally to the 3700 area, doing some time analysis I would expect this rally to end mid to late Feb. Once it's broken down where do I think it will go, well that's anyone's guess, Might be better to side on the side lines of that one because it could be a violent move to the down side and I don't want to be left holding bags
Summary
-A move to the down side 3150-3300 area (stop loss, 3000)
-A rally back to the 3700 area followed by a lower low.
Summary
-A move to the down side 3150-3300 area (stop loss, 3000)
-A rally back to the 3700 area followed by a lower low.