BY POPULAR DEMAND: Here is more proof of btc in a long term symmetrical triangle but this time in log scale chart, the chart that everyone keeps telling me is superior so here you go traders
awesome observation.... very good idea... but symmetric triangles are nearly always bullish. higher lows always depict eagerness of buyers and hence break upwards.... maintaining overall upward trend .... hence it will not play out exactly as you have mentioned and at some point 20 K peak will be broken.
CryptoGuy234
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@DrCheema, yeah it is bullish and will eventually break out of this pattern but if it plays out the next bottom should be 5k and the next top should be at or slightly under 10k then another bottom at 6k, then after that smaller and smaller movements until a bullish breakout occurs., for now i am neutral but i will be bullish long on bitcoin after it breaks out of this symmetrical triangle
some_guy
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so ill play along - doesnt that make this a giant bullish flag then? :D
CryptoGuy234
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@some_guy, no, this is a symmentrical triangle with lower highs and higher lows