In that regard, we have a very large triangle staring us right in the face – waiting for our move. Will we start buying massively, or do the exact opposite. Either way, a triangle break-out is at hand. Now the ball is in our camp – how will we let this triangle be recorded into crypto history books? Will we name it the “2017 GOLDEN TRIANGLE”, followed by another amazing bull run? Or will we name it the “2017 DEATH TRIANGLE”, directly ensued by EVEN MORE blood in the streets than already is the case. Yes, that’s bloody. Maximum down so far in excess of a 70% correction from a $20K zenith to a nadir at $6K. Such a market reset makes even the largest stock market crashes start to look a little pale. And the next major at $4K only, lurking at us – is awaiting our choice.
So… for the moment we have strong support at $7,4K more or less and we are still in a consolidation . We are approaching the decision zone of the triangle as well. We also have one additional at the 78,6% Fibonacci which was already tested back on February 5th and November 12th.
The question is: Do we all wanna become crypto whales – or crypto rekt? The choice is ours. The choice is yours.
By the way - any name tagging alternatives?
- The Houdini / Crypto Bermuda triangle (previous gains evaporated)
- The Golden Bull triangle
- The Super Bull triangle
PS1 : No specific investment advice here, just philosophic contemplation. Has to be done too sometimes.
PS2: Yes, this doesn't provide you much investment advice, or... does it?
All the best & good luck in your trading endeavours
Heikin Ashi doji on the trendline signaling a potential positive trend reversal - how exciting is this stuff ?! :-S :-D