BTC STILL VUNERABLE IN A CONTINUATION TRIANGLE

11 Feb 2019

BITCOIN (BTC)
Technical analysis 2/11/2019
BTCSMARTCONSULTING


TOTAL MARKETCAP : 122,850,769,226. (+1%)
BTC PRICE : 3650$ (+0.70%)
LTC/BTC PRICE : 0.012721B (+4.31%)

BTC STILL VUNERABLE IN A CONTINUATION TRIANGLE.
WILL REMAINS BEARISH IF THE DOWNTREND RESISTANCE IS NOT BROKEN.


BTC (BITCOIN) IS IN A CONTINUATION TRIAGNLE WITH A STRONG SUPPORT AROUND 3350$, AND A STRONG SUPPORT AROUND 3700$.
FROM 12,000$ TO 6,000$ BTC (BITCOIN) STAYED IN A SIMILAR TRIANGLE, AND THEN LOST THE SAME % AS FROM 12K TO 6K TO FIND A “BOTTOM” AROUND 3150$.
I BELIEVE THIS TIME THE TRIANGLE WON’T LAST FOR LONG, AND I THINK THE BOTTOM WILL BE BETWEEN 2400 TO 2700 BY THE END OF FEBRUARY, AND WE WILL PROBABLY BREAK THE RESISTANCES BY THE VERY END OF MARCH.
(That could be the spring of a wyckoff accumulation pattern as posted earlier.)
THE ACTUAL TRIANGLE AS SHOWN ON THE GRAPH IS SHOWING US A -23% APPROXIMATELY, SO THE BOTTOM SHOULD BE 23% DOWN FROM THE SUPORT = 2410$.


TO BE LONG TERM BTC WILL NEED TO BREAK THE BIG DOWNTREND RESISTANCE AND CLOSE ABOVE 4350$.
MY TARGET FOR 2019 IS 12,000$
MY TARGET FOR 2020 IS ABOVE 63,000$
AND 300,000$ BY 2023 AT LEAST

WE WILL SEE SOME BIG CHANGE IN THE NEXT YEARS.


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docs.google.com/document/d/1wGuWBDs3Bxe67wdz5ldQNv9xdiBdyIIQszR5ZTaD0ts/edit?usp=sharing