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BEARISH TRIANGLE: IS BITCOIN GOING TO CRASH???

BITSTAMP:BTCUSD   Bitcoin / Dollar
I've been thinking on my latest prognosis and something couldn't let me go. I was wondering, whether my bullflag was a correct way of thinking.

I knew the triangle theory a bit, so I googled triangles and found this: http://www.stock-trading-infocentre.com/images/descending_triangle_rp.jpg

There are many ways to draw, what you want to see. But I know that the best ideas are usually the simplest ones. Here you are. Share your opinion.
isma.topius
2 years ago
You can draw a bearish triangle from 12/2013 - 04/2014, from 04/2013 - 07/2013, both times price broke upwards
Reply
ChartArt isma.topius
2 years ago
And both times the Bitcoin price was MUCH lower than today. People always ignore that is makes a difference if you trade something worth 3 Dollar, 30 Dollar, or 300 Dollar. Between 3 Dollar to 30 Dollar it looks more like play money. With 3 Dollar it's easy to hold 1 BTC. At 300 Dollar it's a serious investment. You could live for days/weeks from 300 Dollar. Or you can simply buy 1 BTC for the same amount of money.
-1 Reply
ChartArt ChartArt
2 years ago
And no... no one want's to hold 0.014835 BTC. People want to hold at least 1 BTC.
-2 Reply
Maddie ChartArt
2 years ago
if 0,014 BTC is about 300 dollar everyone want to hold it as an real investment. in a view years they would say. wow mann do you really own one BTC wow, such a big investment ;p
Reply
PWRHLDINV Maddie
2 years ago
As a long hodler... I will know we have truly made it to the moon when people say... "Yeah... I got a couple hundred bits in the bank." They will be too poor to own 1 whole bitcoin. IMHO :-)
Reply
Maddie PWRHLDINV
2 years ago
okidokie ;p
Reply
MoonTrader ChartArt
2 years ago
I think this round numbers thing is just a superstition. People are not all little children. If the entire BTC idea is going to work out, people will have to get used to decimals.
Reply
isma.topius ChartArt
2 years ago
Although your statement might be true, I believe there is no correlation at all between your statement and a bearish triangle.
Also, I encouter more and more websites using "Bits" instead of "Bitcoin";
Reply
MoonTrader
2 years ago
Why not a descending wedge?
Reply
MoonTrader
2 years ago
My problem is that you so arbitrarily pivot the bottom of the triangle against the $339 low. Why not line it up with the other lows and make a bullish descending wedge?
+1 Reply
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