TroyByrne
Long

BTC Descending Triangle breakout to mid 20k, here is why

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
G'Day Cobbers

Just a quick post to give some hopium, check the chart it says it all. remember this is on a huge timescale and is not t be trader against unless you are looking to buy and hold. This is just a forecast on where it could go based on classical charting rules. It will not go in a straight line but it should develop on the time frame much like the last flag pole.

Good luck and Enjoy.

G'day

Thanks for dropping by, hopefully you garner something valuable from my post, be it educational or an idea towards a trade of your own. Please share, like and comment and engage with me, I am here to help.

Trader, Chart analyst and all round larrikin. Reside in NQ Australia, surrounded by Crocodiles, snakes & giant spiders, not to mention the boxing Kangaroos and devilish Drop bears. It makes my job quite hazardous but strewth mate, I love it.
Comment:
Comment: This is a clearer view.
Comment: Bollinger constricting
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Comment: Will we see a breakout of this ugly pattern? Would bring us back to retest 8800, then we will need to break above or we will be looking at another dreaded double top.
Comment:
07-31 2:12 UTC. Thanks for the update. Am also of the view that the immediate move is up. But your analysis makes it convincing. Am also holding for the longer term, in line with longer view. Good luck and nice to see you posting again.
+1 Reply
TroyByrne TroglodyteHomunculus
@TroglodyteHomunculus, Cheers Trog, looks like a continuation pattern, here's hoping. Hate for this to end up another fake out on the weekly.
+1 Reply
@TroyByrne, Cheers and let's hope for the best. We go the way our analysis takes us.
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Struth mate, an underarm there..
+1 Reply
TroyByrne rthomson
@rthomson, trendline needs three points spread out for confirmation.
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