there is a big problem with your topic and that is the fact that you forgot to include the chart that you are making this analysis on with the two lines drawn on it showing this triangle you are talking about. and the worse part is that you didn't mention the price levels that should be broken for each scenario to happen, you don't have the lines on chart for us to look at so you needed to mention the prices.
it is basically a chart like this: https://bitcointalksearch.org/topic/seems-like-dump-is-coming-soon-3305613
Topic: Bitcoin Price Analysis, April 11 (Read 166 times)
If is no longer a big news about bitcoin dropping in price. That identify it as a volatile currency,and that it the beauty of the business.
BTC/USD
Bitcoin has formed a descending triangle pattern in the short term, which will complete on a breakdown below $6,757.26. The previous two attempts by the bears to break this support failed on April 01 and April 06.
The bearish pattern will be invalidated if prices break out of the triangle, which is close to the resistance line of the descending channel and just below the 20-day EMA. Once price breaks out of these resistances, the BTC/USD pair will turn positive and rally towards the 50-day SMA.
Traders can initiate long positions on a close above the 20-day EMA with a minimum target objective of $9,000. The initial stop loss can be kept at $6,700, which can be trailed later.
Our bullish outlook will be invalidated if the price breaks below the triangle, which can result in a slide to $5,435.66 levels.
Bitcoin has formed a descending triangle pattern in the short term, which will complete on a breakdown below $6,757.26. The previous two attempts by the bears to break this support failed on April 01 and April 06.
The bearish pattern will be invalidated if prices break out of the triangle, which is close to the resistance line of the descending channel and just below the 20-day EMA. Once price breaks out of these resistances, the BTC/USD pair will turn positive and rally towards the 50-day SMA.
Traders can initiate long positions on a close above the 20-day EMA with a minimum target objective of $9,000. The initial stop loss can be kept at $6,700, which can be trailed later.
Our bullish outlook will be invalidated if the price breaks below the triangle, which can result in a slide to $5,435.66 levels.
I think there is nothing to worry about it's only fluctuation and prediction, nobody knows what will happen for the upcoming days. But for me the downfall of bitcoin may be the way for totally reaching the more better benefits in the near future and this is the right time and opportunity to buy or invest more of it because it's in a much lower cost. Holding is the better thing that we can do for now. We need to be keep supporting to bitcoin therefore we can also help to it for reaching it's fully recovery so all of us will be benefited from it.
From both sides of the up and down the price, we can use both to buy at the lowest down and hold back until the price goes back up again, this is an opportunity.
BTC/USD
Bitcoin has formed a descending triangle pattern in the short term, which will complete on a breakdown below $6,757.26. The previous two attempts by the bears to break this support failed on April 01 and April 06.
The bearish pattern will be invalidated if prices break out of the triangle, which is close to the resistance line of the descending channel and just below the 20-day EMA. Once price breaks out of these resistances, the BTC/USD pair will turn positive and rally towards the 50-day SMA.
Traders can initiate long positions on a close above the 20-day EMA with a minimum target objective of $9,000. The initial stop loss can be kept at $6,700, which can be trailed later.
Our bullish outlook will be invalidated if the price breaks below the triangle, which can result in a slide to $5,435.66 levels.
Bitcoin has formed a descending triangle pattern in the short term, which will complete on a breakdown below $6,757.26. The previous two attempts by the bears to break this support failed on April 01 and April 06.
The bearish pattern will be invalidated if prices break out of the triangle, which is close to the resistance line of the descending channel and just below the 20-day EMA. Once price breaks out of these resistances, the BTC/USD pair will turn positive and rally towards the 50-day SMA.
Traders can initiate long positions on a close above the 20-day EMA with a minimum target objective of $9,000. The initial stop loss can be kept at $6,700, which can be trailed later.
Our bullish outlook will be invalidated if the price breaks below the triangle, which can result in a slide to $5,435.66 levels.
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