There are some complex ideas about the market but I am seeing a simple trend in Bitcoin -0.60% . I didn't really see this until recently and so I had no choice but to publish this since there is a lot of data to support this theory. I have a multi month outlook so I figured I would update this idea and provide my weekly outlook.
Consider the following facts & ideas that support this idea:
1) A symmetrical triangle is generally regarded as a period of consolidation before the price moves beyond one of the identified trendlines . I am sure many will agree we are in a consolidation period.
2) Symmetrical/convergent triangles are more common in 4 wave cycles. Look, even in the fourth wave "C" we have a triangle.
3)As this pattern advances we will see some contraction in volume , there is a good chance we will see and quick increase in volume when a breakout is ready.
In short, at this stage, everything points to this scenario. I have been in the position for a long time and will begin to sell my portfolio starting at ~ 13500 with the intent to rebuy shortly after. If not, I will re-assess this projection.
Best of luck to all traders. I would be happy to discuss :)
Consider the following facts & ideas that support this idea:
1) A symmetrical triangle is generally regarded as a period of consolidation before the price moves beyond one of the identified trendlines . I am sure many will agree we are in a consolidation period.
2) Symmetrical/convergent triangles are more common in 4 wave cycles. Look, even in the fourth wave "C" we have a triangle.
3)As this pattern advances we will see some contraction in volume , there is a good chance we will see and quick increase in volume when a breakout is ready.
In short, at this stage, everything points to this scenario. I have been in the position for a long time and will begin to sell my portfolio starting at ~ 13500 with the intent to rebuy shortly after. If not, I will re-assess this projection.
Best of luck to all traders. I would be happy to discuss :)
評論:
Symmetrical triangle theory is on target and gaining steam. Keep your eyes on the next resistance levels
評論:
As expected, we have now gone from support to next level of resistance. Watch closely to see if the momentum picks back up.
