Looking at the daily chart BTC is in a descending triangle..
BTC entered it in mid Jan 2019 (at 13,786.41) and is staying within the guide lines pretty well.
The triangle is due to end in mid Jan 2020. (at 5,850.63)
If BTC stays within the triangle and breakout to the downside it could take us as low as 2K
if it breaks to the upside BTC will be making up for loss...
BTC has formed a channel which also has a triangle within the channel. A bearish break out has formed from the triangle. Also the candles are under the 50ma and 100ma. With the triangle target along with the downtrend channel (which l expect it to stay in) I am expecting it reach the target of 8,000-7,000 with 2 resistance levels which l don't think will be a...
BTC seems to be following the cloud nicely but l did find this triangle on the 15 min chart where the top of the chart is really showing suport. l am expecting it to follow down the triangle and then exit with an upward movement..
This is not trading advice
l posted this chart yesterday in the chat and it played really well..
l came to the conclusion it was coming down due to the candles clinging to the top of the triangle..
All indicators were also pointing to a downward trend
The cloud was also underneath the candles with a nice gap for the candles to slip through.
BTC is keeping within the triangle..
l am going to say that my thought are that it will break out on the downside due to the trending pattern and
the cloud is thin enough for BTC to clmb down through it quit easily..
On the 30th July there was a doji that formed right at the base of the triangle forcing the candles to rise.
There were 2 attempts for a break down...
l was talking to a friend early this morning about how BTC/USD has hardly moved all day.. l had my sell trade on where the arrow is. He asked if l was going to put a stop loss on it whilst l slept.. my reply was no l think BTC/USD has had a sleeping pill therefore she will be groggy when she wakes up and will more thatn likely fall down the stairs.. So l get up...