BTC likely to breakdown from symmetrical triangle trgt=3.4k

31 gru 2018

We can see bitcoin has formed a symmetrical triangle on the 1hr and the 4hr charts which we all know is a continuation pattern...and if we look left we can see it was preceded by a big bearish drop o odds are good we will be continuing downward...I have a limit buy set up right around the neckline of a head and shoulder pattern down there around 3.4k I feel this is a safe spot to buy back in because we may have finally reached the oversold zone on the 1 day stochrsi by then and we have seen plenty of head and shoulder + inverted head and shoulder fakeouts right at the neckline of those patterns so its wise to buy back in right at the neckline with a stop loss maybe 2 -3 pips below the neckline. I have a feeling we may do a fakeout here...if we dont and we fall under the head and shoulder pattern look for bounce support on the 200 weekly MA just under that around 3.2k...if we break through that support then odds are good we will be heading to 2.8-2.9k which overall would be a great sign for the market as it would mean capitulation is coming and we can soon end this ugly bear market. I still think a fakeout at the head and shoulders(maybe caused by bounce support at the 200 weekly ma) could essentially allow us to shootback up to the bigger inverted head and shoulders pattern that if triggered could take us as high as 5.4k...of course we could see yet another fakeout once we got to the inverted head and shoulder neckline again and have a huge capitulationc rash at that point or even have a huge capitulation crash ater it triggered and took us to 5.4k....pay close attention to the impending 4hr deathcross and then look at how several other 4hr goldencross fakeouts back into death crosses in 2018 led to 50-60% drops....I think our final capitulation candle will occcur on the next 4hr death cross plummet now that we can tell our recent 4hr golden cross is not gonna be sustainable.

31 gru 2018

Uwaga

i think we will fakeout and go below the head and shoulders neckline but we will be saved from triggering the head and shoulders by the weekly 200ma support at 3.2k...if not and we trigger the head and shoulders we have a drop target of 2918
neckline is at around 3.4k...just my own personal thoughts of course not financial advice.