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JeffBear
Oct 31, 2018 9:54 PM

Bitcoin is about to BREAKDOWN! (short) Short

Bitcoin / U.S. dollarBitstamp

Description

The descending triangle will probably break down.
I applied Elliott Wave Analysis/Pitchfork /Fibonacci to the pattern ( descending triangle ) to determine my target. BTC never tested the $4900 swing high historically BTC almost always tested the major prior swing highs!
Also very interesting the yellow support trendline from the genesis.

Target at least ~$4964 but probably lower. (Time around November)

Comment

We hit the target and were right on timing and price. Its time to reevaluate.
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