Bitcoin Might be in Trouble

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Forming yet another Descending Triangle with all the previous ones being true to their targets (or close to true with the most recent one coming short by about $10 so far). The most resent one drawn as of today is suggesting a target of $270-275 over the next 2-4 weeks.

This might be an ugly start to 2015, but hopefully we can start drawing these triangle the other way in the near future.

As a possible less likely scenario of the Triangle breaking out to the upside, look for a move back to the 50-day SMA for an exit or an opportunity to short.

Full analysis can be found here:

Good luck traders.
Tone Vays - Content Creator & Derivatives Trader
Web Site:
Twitter: @ToneVays YouTube: Tone Vays & WorldCryptoNetwork
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out