Bitcoin
Bitcoin
Out of context: Reply #1315
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- sarahfailin0
I read an interesting theory about the pattern we're seeing in BTC price and what it means for the middle term future.
What it seems we have seen is a downward breakout from a symmetrical triangle (aka the cyan wedge). How far we'll drop from the breakout can be predicted as approximately the height of the triangle at its widest part. The widest part of the wedge could be ~$6,000 (a huge goddamn drop, here the magenta line). BUT because that formation is drawn on only two little candlestick wicks at the bottom, the stronger triangle shape may be the purple line, equaling a mere $5,000 (omg still a huge fucking drop).Seems crazy to me, but there's evidence to corroborate this prediction. You can see examples of stocks moving in this way and and an explanation for how this pattern works here:
- There’s evidence to corroborate any prediction. Really you should stop listening to these guys considering they completely negate their own predictions daily.monospaced
- thanks mono for contributing!sarahfailin
- Hahahahaha!monospaced