What are the scenarios?
* If the Triangle breaks to the upside, I am expecting a 0.618 Fibonacci rebound before a -12% decline to 8700. This is synthesized after the pattern from early - mid October which is similar with the Triangle's. A 0.618 pull back resulted in to a -12.35% decline to the 7330 bottom.
* If the Triangle breaks to the downside then the short term target should be the 0.618 (from the 10500 top) at 8550 and after another pull back the level at 8000.
Remember this is a short term projection and Bitcoin is exposed to a high degree of on such time frames, so manage the risk in accordance to your account size and margin.
-20% monthly profit on +10000 USD accounts. Max 30% drawdown.
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