BTC - Test of the support line almost done
Hello all,
The test of the support line is almost done :
We should now go into the direction of the resistance line in orange. I think that a "Head Fake" is a well possible scenario before a massive drop.
In all these cases, we will have a Break Out soon but be really careful if we start with a little up because I'm really thinking about a "Head Fake"
I wish you massive profits,
Cryptopassion.io
Disclaimer : Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
Version française ici : [FR] BTC - Le test de la ligne de support est pratiquement terminé
HF is due around 16th Nov which almost coincides with the end of your triangle. Interesting to see what happens then.
Good information and nice post.
As a hodler, I agree it might go up. But I don't care. I think the most interesting part is the "drop" you speak of. I have my own article on when and how much. Let me know what you think.
I very much enjoyed your article and have begun following you because of it. Thank you for your service to the community.
we have to always remember that, Never invest more than what you can afford to lose.
i always try to obey this rule.
What I am questioning is why we haven't seen the correction yet after the Bitcoin Gold fork, I was expecting us to at least revisit $5000 and then slowly start to climb again but it's holding strong.
Ascending trianlges can be tricky...well all triangles can be tricky.
One thing I want to point out, that while the triangle is on a much larger time frame, it is possible that a sideways move keeps taking place creating a channel. I have seen that often happen with triangles.
They arent broken by an up or down, but simple sideways moves...for what seems like ever in many cases.
I hope it goes to 10k by the end of the year but who knows.
Running
good
@cryptopassion good information