BITCOIN: Symmetrical triangle

BITCOIN: Symmetrical triangle
January 05 17:15 2019 Print This Article

Again we are in front of a 50/50% pattern, the Symmetrical Triangular Pattern on which Highs are getting lower and Lows are getting Higher.

The options, as usual in this case, are sudden breakage of triangular pattern through one of the two trend-lines.

The most likely breakage used to occur in the same direction of the trend, since we are correcting from a previous higher point, I would expect a breakage downwards.

If this case is triggered, a fall to the 3300 USD may happen.

But, as I said, we have 50% chances as well on which the breakage may occur upwards. This option, launches a projection of the price back to the “NECKLINE” of the Inverted Head and Shoulder pattern.

Reaching that “Neckline” and a subsequent breakage of the same, may bring BTC close to the 5400 USD.

Those are the two scenarios I see clearly among others less likely but possible as well as a longer sideway move…

Anyhow, the “APEX” of this triangular pattern is approaching… we should see soon what will be the resolution…

Enjoy!

@toofasteddie


*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.

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Too Fast Eddie
Too Fast Eddie

Superconducting Engineer working for the development of the Fusion Energy, Dad, Crypto-Enthusiast and Runner addicted. I am in a "Continuous Learning Mode" as well I am always willing to share my knowledge about the fields and topics related with trading, Cryptocurrencies, Blockchain technologies and Sports, in particular Running and Athletics.

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