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RE: Bitcoin TA: Another triangle formation (and could this break soon?)
Great analysis! I believe the bitcoin price will drop and we will have a correction towards ~$3200 very soon with the news from China before we have another rising trend. There was a bearish engulfing pattern when Bitcoin was near $5000 and according to Elliot Wave Theory, it is likely that the price have finished the five rising waves and now it is probably going through the c wave, with the previous lowest point at a = ~$4000 and highest point at b = ~$4700.
Good analysis..
As 4236 was broken ..
Bitcoin will move toward 3793 for now..
Thanks :)
Very interesting, thanks for sharing.
Let me get my fiat money ready 🤑
Mine is ready $.$
News from China is anything but the gossip that i would not call the news that has happened before many times already. Who is the official source anyway?
And having in mind in the debt economy all those dollars need to go somewhere and they are definitely not going to Bond or stock markets. Some went to gold and silver already and the rest is going to end in cryptocurrencies in my opinion or it might be just a wishful thinking :-)
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