Major criteria I have noticed:
- Fibonacci Retracement levels drawn from 10/23/2019 low of $7293.55 to 10/25/2019 high of $10350.00.
- Key Resistance level of $8500.
- BTC overbought on 10/25/2019, 4hr RSI printed 85.70.
- MACD crossed and is descending on 4hr.
I've adjusted the descending triangle from June 2019 with latest pump from 10/25/2019. Price can continue to go sideways until a breakout around Nov 13-15. If that happens then in my opinion it might be a sign that price will go up again. Before that I think price will drop a bit more due to crazy pump.
I am not an expert and this is not TA or financial advice. Just looking at how I believe the pattern has formed. Entertainment purposes only!
- Fibonacci Retracement levels drawn from 10/23/2019 low of $7293.55 to 10/25/2019 high of $10350.00.
- Key Resistance level of $8500.
- BTC overbought on 10/25/2019, 4hr RSI printed 85.70.
- MACD crossed and is descending on 4hr.
I've adjusted the descending triangle from June 2019 with latest pump from 10/25/2019. Price can continue to go sideways until a breakout around Nov 13-15. If that happens then in my opinion it might be a sign that price will go up again. Before that I think price will drop a bit more due to crazy pump.
I am not an expert and this is not TA or financial advice. Just looking at how I believe the pattern has formed. Entertainment purposes only!