Descending triangle with sub-7k target before the end of 2019
My view of the Bitcoin chart is that we are in the presence of a bearish continuation descending triangle whose target deducted from its height is sub-$ 7k before the end of the year.
On the long-term scale, we have already benefited from a rebound on December 15, 2018 of surgical accuracy on the MA 200 (moving average), exactly like January 10, 2015 (see my publications from a year ago): for me this chance should not happen again.
I am considering a final bottom at the end of 2019 on the now historic support of $ 6,000, which I think will serve as a basis for a last big bullrun throughout the year 2020, to get a new ATH approaching the 6 digits within a year.
This end of 2019 bearish year is in my opinion the very last opportunity to build a bag of HODL under the current price, and the current descending triangle is particularly interesting to validate this opportunistic perspective.
DISCLAIMER: This is a personal opinion that engages only its author, you are solely responsible for your investments. Invest only what you can afford to lose.
On the long-term scale, we have already benefited from a rebound on December 15, 2018 of surgical accuracy on the MA 200 (moving average), exactly like January 10, 2015 (see my publications from a year ago): for me this chance should not happen again.
I am considering a final bottom at the end of 2019 on the now historic support of $ 6,000, which I think will serve as a basis for a last big bullrun throughout the year 2020, to get a new ATH approaching the 6 digits within a year.
This end of 2019 bearish year is in my opinion the very last opportunity to build a bag of HODL under the current price, and the current descending triangle is particularly interesting to validate this opportunistic perspective.
DISCLAIMER: This is a personal opinion that engages only its author, you are solely responsible for your investments. Invest only what you can afford to lose.
Comment:
Pattern invalidated with possibility of a W-bottom flipping, but too few indicators converge on my side, so no trade for this time!