Re: If Bitcoin Repeats History? 5 Part TA Series On Descending Triangle Breakdowns
Active Parts updated (1, 2, 3, 5, 6, 9, 10). More bearish bias confirmed (2, 3, 5), as well as neutral/bullish (6, 9, 10) bias confirmed compared to last week.
A lot of mixed price signals suggesting a lack of definite direction at the moment. Best to remain neutral until further confirmation in my opinion, despite individual biases.
A lot of mixed price signals suggesting a lack of definite direction at the moment. Best to remain neutral until further confirmation in my opinion, despite individual biases.
Analysis & Status
Similar (8] | Relevant (1) | Irrelevant (1)
Short (7) | Neutral (3) | Long (0)
Active (7) | Completed (2) | Inactive (1)
Updated: November 4th 2019
Part 1: Descending Triangle Looking Similar To 2018 (Short - Active)
Comment: Broke down too soon for confirmation of similarity. Could still follow same pattern if breaks down again soon, but unlikely.
Part 2: Measuring The Move of the Descending Triangle Breakdown (Short - Active)
Comment: Broke down as expected with a delayed but eventual re-test of triangle resistance that held up, still awaiting target until breakdown is invalidated.
Part 3: A repeat of 2014? Worst Case Scenario A $2,500 Low (Short - Active)
Comment: Price is returning to the path of a "slow grind" reversal as well as notably fallen to a similar breakdown level.
Part 5: If 2017 Descending Triangle Repeats? Best Case Scenario (Short - Active)
Comment: The re-test of triangle resistance was late, but now returning to similar price range that suggests further downside.
Part 6: If Bitcoin Repeats History? Monthly TD Sequential Red 1 (Neutral - Active)
Comment: Last months green monthly candle looks to be taking the bullish path of the continued bull-run. However now sequential is on a Red 3, price could still go either way.
Part 9: TD Sequential 9 Next Week To Decide Direction? (Neutral - Active)
Comment: Price is currently following the path of the "bullish TD 9", despite the price flip. Extrapolation suggests a re-test of support before higher highs.
Part 10: Extrapolating the 50 & 200 Day MA bear crosses (Short - Active)
Comment: Price remains within the 2014-2015 paths despite failing to $12,000 last month, suggesting further upside or consolidation.