Re: If Bitcoin Repeats History? 5 Part TA Series On Descending Triangle Breakdowns
Active parts updated. These longer term extrapolations and patterns are looking more relevant than ever as we return to bearish price movements.
Changes include Part 1 now gone from relevant to similar, making all 7 remaining active patterns similar to previous price history.
The OP has also been updated with up-to-date screenshots as was becoming a bit updated.
Changes include Part 1 now gone from relevant to similar, making all 7 remaining active patterns similar to previous price history.
The OP has also been updated with up-to-date screenshots as was becoming a bit updated.
Analysis & Status
Similar (9] | Relevant (0) | Irrelevant (1)
Short (7) | Neutral (3) | Long (0)
Active (7) | Completed (2) | Inactive (1)
Updated: November 19th 2019
Part 1: Descending Triangle Looking Similar To 2018 (Short - Active)
Comment: Broke down too soon for confirmation of similarity but now started to follow similar capitulation as 2018.
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 after notably breaking down to a similar support level.
Part 5: If 2017 Descending Triangle Repeats? Best Case Scenario (Short - Active)
Comment: The re-test of triangle resistance was delayed but now price is at a similar value as 2017 breakdown, implying a bounce to the upside.
Part 6: If Bitcoin Repeats History? Monthly TD Sequential Red 1 (Neutral - Active)
Comment: The Monthly Red 3 candle now looks to in between the "bullish" and bearish paths, however the sequential 3 has a bearish bias.
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. Price continues to target support level of 100 Week MA.
Part 10: Extrapolating the 50 & 200 Day MA bear crosses (Short - Active)
Comment: Price failed to follow the 2014 & 2015 path targeting $12,000 last month, now in line with 2018 correction, but with a bounce expected.