Bitcoin has reached its 61.8% retracement & now forming a symmetrical triangle. If it breaks up, we will be seeing bitcoin reasserting back to uptrend.
Symmetrical triangle is continuation pattern. This means that it most likely breaks down, not up. http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:symmetrical_triangle_continuation
@hubavka, so every time there is a symmetrical triangle you just follow the trend without looking at the larger picture? Its like saying its a “hammer” you should always buy. Donkeys do that. There is way more information supporting bullush move than just selling at “symmetrical triangle”. 1. It has reached fibbo retracement 61.8%, 2. hammer candlestick, 3. Triangle showing sideways, 4. It has broken the upper triangle. Goodluck seling
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http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:symmetrical_triangle_continuation