More DANGER for Cryptos!? Must See Bitcoin Technical Analysis!
Hey guys, so I noticed price on the BTC/USD 4 hourly chart is consolidating into what seems to be a Symmetrical Triangle Pattern... Now since this type of triangle pattern is supposed to be a continuation pattern and the preceding trend was bearish into it, logically we should say that price will break out to the bottom side. Now this does not mean that it definitely will break down to the bottom side because I think right now it is anybody's guess where Bitcoin will go next.
In the chart below I have illustrated the Symmetrical Triangle pattern that I am talking about:
Honestly, with all the market manipulation in crypto currencies I would not be surprised if the continuation rule was broken and we broke to the upside. The Weiss Ratings are coming out in 1 hour and 30 minutes, so maybe that will decide in which direction the break out happens. Definitely something to be aware of anyway.
For me right now I am personally holding and not selling any cryptocurrency at all, if price does go down substantially again then I will simply be buying more solid cryptocurrencies for the long-term. This is not to say that I think anyone else should or should not do this, just what I am doing! Remember to do your own research beyond reading my blog posts and understand exactly why you are investing in each crypto that you do put your money into.
Thank you for reading and if you follow me, I will follow you back!
Honestly between all the FUD, New Year, bank and big corp bullies, new tax laws and governments trying to put everyone in headlocks the market is putting up a good fight. If you really think about everything Crypto is up against i think the market is doing better than expected. Once things settle down a little bit and some solid answers come out of all this finger pointing and threats i believe not only Bitcoin but Crptocurrency itself will be unstoppable.
up to 13-14k$ then down to 7-9k$ then up to the moon
crystal clear ... If I had money to day trade/swing trade I would be rich in two months ...
doesn't take much to day trade. you can start with $100 if you wanted. its not what you start with, its what you can make
Excelente amigo, en este momento pienso que no es muy buena idea vender, si no es mas sabio comprar, de lo que si estoy seguro, es que tarde o temprano los precio se recuperaran de eso no hay dudas.
its a great buying opportunity when its down so far, as long as it stops eventually lol