InvestingScope
Long

BTCUSD: Bullish signal on repeated Triangle.

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Following the support it found just below 3,700, Bitcoin managed to rebound to 4,100 but failed to sustain a stronger bullish momentum falling into consolidation within a 4H Triangle ( RSI = 52.245, STOCH = 47.818, Highs/Lows = 0.0000). As shown on the chart, that pattern has already appeared in early December and resulted into roughly a -11% decline before the eventual strong bullish sequence that led to 4,384. A similar candle sequence is expected, targeting 4,384 and 4,463.10 in extension.




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Comments

@WBM_Team, This will it will most likely be a long consolidation during the first 4 - 6 months. The 20k levels is achievable but most likely in 2020.
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I love this analysis and it confirms the drop we are looking at too. We are shorting right now looking for a touch of the support. Great TA!
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NICE chart; head and shoulder?
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Bitcoin broke a triangle and a wedge , why is there no growth? What if a downward wedge is just being formed?

P.S. I accept thanks with likes and comments to the idea!
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I'm feelin' it!

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@nerdy007, Consolidating for the next bullish leg on 4H.
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BTCUSD H1 C UP. Checkout the idea detail's and update's for the complete picture!

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@Boon2, Thanks for sharing boon.
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Boon2 InvestingScope
@InvestingScope, Similar idea's, lets see if it plays nicely
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