Here is what I'm seeing on the triangle. Breakout should be after E, HOWEVER, the daily Bear divergence is massive.
I'm waiting for confirmation before entering here.
NOTE: Not trading or investing advice, entertainment value only.
Go ahead, my flame suit is on! :)
Rising Market - Triangle Correction Pattern
Long in 2019
Sell in Mar 2026
Long in Sep 2028 - Ride this pony until retirement or gift onto your family.
NOTE: Not investing or trading advice, entertainment only!
This is merely a contrarian view to the current Bull run. I'm more curious to see how this scenario would play out _IF_ Bitcoin should decide to correct lower. Let me be clear, I DO NOT want BTC to reach these lower 2017 levels, but again, it is foolish to believe it couldn't! Bitcoin and crypto markets are volatile when considering the players involved. Good...
BTC Bullish Gartley completed. Now watching for the Bearish Gartley confirmation which coincides with short term price movement upwards to the 127 fib. Strange price action taken place here so it will be interesting to see how this one plays out.
Note: Not investment or trading advice, amusement only. ;)
www.tradingview.com 76 EMA was penetrated with ease, now I see it heading lower toward that 207 EMA (yellow) and meeting the old trend line that started back in Sept '15
Just my analysis and prediction, not financial or trading advice. Looking to see how this plays out, but will likely be buying lightly on the way down.
Oversold RSI on the DAILY chart has historically provided a bounce to the upside. Watching carefully how this plays out from a 6200 Long entry.
Short Term Targets:
Target 1 = $7K, to back test bottom of triangle.
Target 2 = $7.3K 161 Fib
Target 3 = $7.8K descending trend line test
Looking for repeating patterns I found this 2014 fractal making lower lows right before the 2015 upswing to new highs. For experimentation purposes, let's see if there are any similarities between the two trends and check for repeating patterns.
Looking at the Daily, current BTC price path is headed toward the lower log trend line, suggesting a 4th test is coming. Will it hold? Will it bounce upward out of the triangle? Time will tell. In the interim, play the bounces, watch the daily doji candle for possible reversal.
While we wait to figure out BTC direction, here's several support trend lines beneath that could possibly be a pit stop if there were plummet by shorts. In addition, I've noticed there is a huge triangle that may play out ABCDE.