Will this .618 - .786 Fib Retracement cap continue to hold price down or will we see a break in pattern with the next volatile swing?
The symmetrical triangle is simply a period of indecision and as most of you reading this know, Bitcoin has been suffering the indecision of this bear market for 9/10 months now.
If I had to pick a direction right now, I would be 75% on the sell/short side aiming for the lower FIb extensions shown in this chart.
If we break pattern and get above the .618 - .786 cap we keep seeing I would expect the upper Fib extensions>
If the latter happens expect to see lots of these charts http://thepatternsite.com/bigw.html
In conclusion, Leaning short until proven otherwise.
The symmetrical triangle is simply a period of indecision and as most of you reading this know, Bitcoin has been suffering the indecision of this bear market for 9/10 months now.
If I had to pick a direction right now, I would be 75% on the sell/short side aiming for the lower FIb extensions shown in this chart.
If we break pattern and get above the .618 - .786 cap we keep seeing I would expect the upper Fib extensions>
If the latter happens expect to see lots of these charts http://thepatternsite.com/bigw.html
In conclusion, Leaning short until proven otherwise.