Just noticed something on the chart today. We are inside (What appears to me) to be a huge triangle! Which can either be bullish or bearish. However this has made it more clear to me that 100K is still possible, and even higher levels, just like it is still possible to break down to retest 20k again. But this triangle just confirmed that we are going to be in it for a very long time, because these are daily candles we are looking at. Not to mention a ton of resistance we need to break through to get back to the 50k levels we were once at...
Bitcoin Price Thread
- Thread starter Magna
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This imaginary triangle has made it clear that 100k or 200k is still possible? And that price would have to break out of that imaginary triangle at some point? Congratulations, you are a smart cookie. 
This imaginary triangle has made it clear that 100k or 200k is still possible? And that price would have to break out of that imaginary triangle at some point? Congratulations, you are a smart cookie.
I was just about to post a similar response. This triangle has no substance, too little information as price action isn't continuously hitting Upper and lower bands, now in case of TSLA, there is a bearish triangle plus Tesla is losing market share and Musk keeps fucking it up, well, for himself in a way, so TSLA will crash out of triangle, in case of BTC this isn't relevant IMO. Oh yeah, forgot the astronomical PE ratio of TSLA.
This imaginary triangle has made it clear that 100k or 200k is still possible? And that price would have to break out of that imaginary triangle at some point? Congratulations, you are a smart cookie.
We will see little padawan. One thing is for sure though, a breakout is in the works...
I would have never guessed... I am also pretty sure there will be rainfall within the next 365 days.
I was aiming to get the triangle formation early, since there are 2 points of contact on the upper and lower resistance/support lines. The whole point of my post was to predict a breakout. Am I doing it wrong? As far as I'm concerned your charting doesn't look any different than mine.
Yeah dude, you've got the right idea. Pay no attention to any chart patterns, just put your money into a stock and pray it goes up.
My charting has more info within the triangle, not that my charting skills are a N y better than yours, also I provided some other relevant information which is relevant to choosing which direction to trade in. If you just expect a breakout, you may react to an upside breakout which may be a fakeout.
Yes I know all about Bitcoins fakeouts, and try to trade with the manipulators instead of against them.