RSibayan
Short

Bitcoin Descending Triangle

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
The Bearish Divergence on this Descending Triangle has yet to be fulfilled.

Downside Breakout Target: $8,443 @ the Golden 618 Fibonacci Level.

Price is expected to create a FALLING WEDGE as it drops to the target area. This will create an opportunity for the price to resume a bull rally.


Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.

Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get stopped out at your trades.

>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<





Constructive and positive comments are welcome.

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Ron (The Intrepid Trader)



This is not financial advice. Do your own TA and use this chart to help you decide what trade you want to make.



Comment: Anticipating a Falling Wedge to give an opportunity for price to resume its bull rally.
Comment: Anticipating a Falling Wedge to form @ the 786 Fibonacci Level, giving an opportunity for price to resume its bull rally.
Comment: Bull Flag could take price up to $9K
Comment:


Anticipating this move.
Comment:
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