BitcoinShort
Will history repeat itself
Can a break to below $9500 take us back to sub $6000???
Looking back at the last descending triangle in November 2018 we dropped about 45% after the break to the downside.
Looking at the currentBTCUSD descending triangle a 45% correction would take us to roughly the same point in relation to the overall move (just under0.7786 fib level) this also lines up with an area of strong support/ resistance all the way back to before the run-up in late 2017
Looking back at the last descending triangle in November 2018 we dropped about 45% after the break to the downside.
Looking at the current
BTCUSD descending triangle a 45% correction would take us to roughly the same point in relation to the overall move (just under0.7786 fib level) this also lines up with an area of strong support/ resistance all the way back to before the run-up in late 2017
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.