Yesterday bitcoin tested again, the price, the upper limit of the triangle, but today the price goes back. Will the price go up or down?
We'll see
In recent weeks, Bitcoin has formed a triangle, ABCDE.
Yesterday it has touched the upper limit and its price has bounced with the aim of forming E
The rebound structure in E, would indicate bullish to the price, but the fear of the market and how the news is impacting the price lately indicates that it could break down
If we measure the height of the triangle and project to a possible breakout price, we could estimate a possible target price
Breakout to the upside
$25,000 target
Break Down
$15,000 target
What do you think? Does Bitcoin go down to $15,000 or up to $25,000?
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READ DISCLAIMER: this publication / analysis is only for general information purposes. I am not a professional trader and I will never be a financial advisor. The material in this publication does not constitute any trading advice of any kind. This is the way I see the paintings and what my ideas are.
Perform your own analysis before making an investment decision. Use money that you are willing to lose if you make an investment.
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