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CoinStudio
Jan 13, 2019 2:11 AM

BTC: Large Move Ahead - Including Target (4 hr) Short

Bitcoin / Tether USDPoloniex

Description

BTC clearly showing a descending triangle on the 4 hr which usually is bearish.

If this pattern is being validated, we are heading towards $3390 - potentially in one large move, as the volume keeps decreasing, foreshadowing a potentially high-level volatility action.

The $3390 level has been estimated using measure rule and confirmed by CoinStudio.

Please note that I think the pattern has an increased chance of getting invalidated due to the oversold rsi on the same 4 hr.

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Comment

Nice, around 1% off. Didn't expect the upswing that early though.
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