Short-Term Decisive Point - Potential Bearish Pennant Breakdown

28 thg 3, 2018

BTC just had a bit of a run up.
However, I noticed since earlier today this channel forming.
Until we break upward out of this channel, I'll take some profits for now.

Why it concerns me that this could be a Symetrical Triangle of a larger Bearish Pennant, is that I can find an ABC subwave in each wave of this ABCDE, making it a valid count.

IF we happen to break downwards as a Symmetrical Triangle/Bearish Pennant, to find the potential drop target, we measure the height of the base (465), and use it as an extension from the exit/drop-out point.
This gives an average target of: ~7350

29 thg 3, 2018

Ghi chú

Bitcoin price falling rapidly, as soon as it broke the Symmetrical Triangle/Bearish Pennant channel.

29 thg 3, 2018

Ghi chú

Bitcoin rebounded strongly so far, right on point with my main target of 7350.

29 thg 3, 2018

Ghi chú

We are at a tipping point with BTC, one strong push in either direction will appear to give a valid count.
I don't expect 6000 ranges right now, still sticking with my target range between here (7350) and 7200 being the possible bottom of this wave