Bitcoin: Warning bears! The triangle can be a reversal pattern
Usually ... a triangle is a continuation pattern. When you see a big fat wedge in a chart with closing trendiness you can bet your bottom dollar that the triangle or wedge means a continuation of the trend.
A lot of bears are jumping on Bitcoin now, after the crash, we're showing a triangle consolidation under support! That means it's gonna go lower, right?!
Maybe .. We honestly don't know - no-one knows the future. A triangle can be a reversal pattern OR a continuation pattern. Have a look below
www.stock-trading-in...etrical_triangle.jpg
Millions of traders are playing the bitcoin market right now and even they can't decide. That's what a triangle is: its a tug of war between bulls & bears who literally can't decide which direction it's going to go in.
at some point soon there's going to be a breakout from this triangle. It could be up to $14k, it could be down to $8k. I don't know! But I'm willing to bet its up. About 50% of the market agree with me. Let's see if we are right!
A lot of bears are jumping on Bitcoin now, after the crash, we're showing a triangle consolidation under support! That means it's gonna go lower, right?!
Maybe .. We honestly don't know - no-one knows the future. A triangle can be a reversal pattern OR a continuation pattern. Have a look below
www.stock-trading-in...etrical_triangle.jpg
Millions of traders are playing the bitcoin market right now and even they can't decide. That's what a triangle is: its a tug of war between bulls & bears who literally can't decide which direction it's going to go in.
at some point soon there's going to be a breakout from this triangle. It could be up to $14k, it could be down to $8k. I don't know! But I'm willing to bet its up. About 50% of the market agree with me. Let's see if we are right!