Quote from: ukloon on Today at 01:04:28 PM

My analysis shows why there is deep division on where bitcoin prices are going next. Both bearish and bullish charts look to be correct!

The BEARish chart shows a series of descending triangles, and a triple top. So it looks an imminent dump, and maybe Sept at $8800 or Jan 2021 at $7500 for a breakout?

I don't see a descending triangle in 2019. That section of the chart looks a bit forced. My thoughts on a triple top:

Quote from: exstasie on June 05, 2020, 07:32:26 PM

Quote from: Bossian on June 05, 2020, 04:46:49 AM

A triple top (October 2019, February 2020, June 2020) isn't good for the bulls.

Double tops (or triple tops) are topping patterns that appear at the end of uptrends. $10.5K is resistance in a long term downtrend. Big difference. The lower lows in between those peaks rule out any sort of topping structure like that.

Triple tops are unicorns anyway. I've never seen them work before. Usually it's just a temporary consolidation before a prior double top is broken to the upside. Wink

I'm more focused on resolution of the larger 2018-2020 triangle:

If bears win the short term battle and break the weekly uptrend (below $8,600 or ideally $8,100) that's a likely confirmation that Wave D is complete. Per EW rules, Wave E should either be a zig zag or a contracting triangle, so I like the OP's idea of a "triangle within triangle" into the end of 2020.

Quote from: ukloon on Today at 01:04:28 PM

As you can see, both charts appear to be correct, so which one do we believe?! Huh

Neither until $10.5K or $8,600 is broken with authority. This range loves to troll, trapping traders in both directions. I am not trading much at this point. Too unpredictable.