Bitcoin (BTC) Symmetrical triangle Formation, Bearish sign ! (but not that bad tho…)
THE BAD CASE.
BITCOIN (BTC) has dropped approximately from 6150 to 3150 usd.
Once the major resistance which was around 6000 usd got broken, and once BTC arrived at the end of it first triangle, BTC started to drop and lost about -26%ish.
BTC is now in a symmetrical triangle, also named the continuation triangle.
we can expect the BTC to drop by 26% more once BTC is breaking down the symmetrical triangle.
Otherwise, i don’t think this will happen, but if it does then it’ll be like this :
BTC will drop by 1000 usd in just a single candle, by the end of february.
from 3690 to 2690 usd.
But then i do believe that BTC will start a run by the end of march, april , may.
And start a bull run by this summer.
BITCOIN מלשון ביטחון
Mena’hem Mendel Sultan