Bitcoin Triangle Theory - 14K Then Rinse & Repeat
There are some complex ideas about the market but I am seeing a simple trend in Bitcoin. 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.
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 :)
Comment:
Typo in the subject/ header. My sell target is 13-13.5K - It wont reach 14k
