Ok. I guess I have to to one more of these, given the market situation. Let's have a look at what has happened to BTC/USD.
4hour chart
We saw a breakout to the upside out of the triangle, from where I had hoped we could consolidate above the first fibonacci retracement level. Instead the price was rejected and had to go lower to find support, which for the time being has been found between the very tip of the triangle and the fib level below where resistance was met. Even though this may look bad, we are still within the rules of a legit positive breakout.
#1
#2
...are two examples of how a symmetrical triangle pattern can play itself out.
This is not say that the price can't go any lower. However, beside the fact that we are still in breakout territory, there is one more thing signaling a positive turn, namely the high buy volume of the previous candle.
A massive increase in green volume one the best indicators for calling the low, though seeing more of it would have been welcome, in order to pick a side with confidence.
All in all I am still optimistic toward price action from here.