Descending triangle is coming to its point, and I predict it has a 75% chance of breaking down. If it does, look for resistance around $7,600. If it breaks out of the descending triangle, wait to see if it is a fake-out, and if its not look for a $12,000 BTC price.
I'm placing a short at $9,600 and will adjust as needed. I'll keep this post updated as things progress.
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Wow! This descending triangle is holding perfectly till the very end. Let's see how this ends!
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Updated chart showing new target--$6,300 between August 5th to 30th.