A Breakout is Imminent (BTC)

in #cryptocurrency7 years ago

Bitcoin is currently trading in a symmetrical triangle, a breakout up or down will happen within a few days and is going to mark an important psychological threshold. Most likely we will see a drop over a week or two down to about 18-1900. This is based on historical comparison and the low volume we are currently experiencing.

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We'll see for certain. However I'd also point to the fact that when BTC has attempted to drop to certain thresholds volume jumped and Bulls bought it all up, which are what the lower wicks are representing here.

Also lower volumes do not necessarily represent a bad omen. They often represent a pattern of relaxation before a big move.

Let's see what happens. Either way, you're right that a big move is coming.

I agree time to stack more! Steady hands always win

Why would you stack before a drop to the 1800s? Just wait until the right moment...