CryptoKnights
Short

Coming to a Point

COINBASE:BTCUSD   Bitcoin / Dollar
This descending triangle is finally coming to a point. I expect a price breakout into a new level, and, will be looking for confirmation of a breakout generally before the 28th. The descending triangle would usually suggest a downwards break. My price projection is probably wrong, but, I would expect to see 3-5% movement into lower levels within the next few days
Comment: Couldn't find much on the fibonaccis other than this triangle being the end of the fibonacci wedge for the price pump from the 400s.
Comment: Didn't make the chart easily visible, but, we can see a movement towards a possible large break downwards that began today.
Comment: Following nicely. Depending on my ability to identify the next trend, I may close early in profit. Wish I would have made the chart a little more visible.
Comment: Dropping faster than anticipated. Ill be looking for the bounce around 612.
Trade closed manually: I let this one ride out while in profit and got lucky on the unexpected news of Bitfinex. This is a good example of letting good trades ride while in profit. Despite the high possibility of a massive drop incoming, i'm willing to let this one play out for a day or two without trading BTC until the panic calms at least a hair.
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