BTC to $10,900 on next daily candle

BITSTAMP:BTCUSD   Bitcoin / Dolar
Dilihat 828 kali
828 2
BTC is in a large descending triangle which is about to break down sometime during the next daily candle (which begins to form approx 3 hours from now).

Using Bulkowski's Descending Triangles as a guideline we can estimate a move to the downside, resulting in a price of $10,900.

To get this amount, we:

1. Compute the height from the highest peak (A) to the horizontal trendline (B) and then multiply it by the “percentage meeting price target”, which Bulkowski states is 54% for descending triangles that break to the downside.

2. Then we subtract the difference to the breakout price (the point at which price crosses the trendline ) to get a price target (C).

Of course, we should acknowledge that this descending triangle could break to the upside and invalidate this idea, but several TA indicators show no bullish sentiment at present.

What this means for you:
Long term holders: use a possible drop to add to your positions in the long term.
Day traders or those looking to invest for the first time: be patient and wait for the descending triangle to finish forming first.
Shorters: You have a target to aim for here, taking your own risk/reward ratio into account.

If you are going to trade this move, do your own due diligence first.
Good luck and happy trading!

So? looks like it'll move up then?
Heinzz fkashem1986
@fkashem1986, It didn't break as expected, so far. I'll wait until this daily closes to re-evaluate.
MS Bahasa Melayu
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Laman Utama Penyaring Saham Penyaring Forex Penyaring Kripto Kalendar Ekonomi Bagaimana ia berfungsi Ciri-ciri Carta Peraturan Dalaman Moderator Laman web dan Penyelesaian Broker Widget Perpustakaan Carta Stok Permintaan Ciri Blog & Berita Soalan Lazim Bantuan & Wiki Twitter
Profil Tetapan Profil Akaun dan Pengebilan Tiket Sokongan Saya Hubungi Sokongan Idea-idea yang diterbitkan Pengikut Mengikut Mesej Peribadi Sembang Daftar Keluar