Will_Wortel

Next for Bitcoin: possible descending triangle (long term)

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
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Hi all,

This is possible another way to interpret the long term movement of the price, since there was a lack of volume when breaking out previous triangle (see other idea below). The volume needs to confirm a pattern, big down to 8k area had to come. so my feeling is that the symmetrical is invalidated.

It looks like the price is moving in a descending triangle . Mostly gives a descending triangle a big move down. This one was after the previous bullrun (begin 2018)


For the bulls I'm having a bad feeling about the price but 14k is possible with an up.

For the bears, I'll think 6k is possible with a down. Big short opportunity.

BTW: there are a lot of opportunities to make money in this triangle.

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Comment: This is my previous long term about Bitcoin. The big move stays out so I expect the pattern is invalidated

Comment: New idea, click on it for details

Nice descending triangle. I'm looking at the same thing but bearish setup

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Will_Wortel Cryptonite_trader
@Cryptonite_trader, Im expecting btc will grow to the top of the triangle.
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