A look at the Monthly Chart Symmetrical Triangle Pattern!

24 ago 2020

We may come back down and retest the top trendline of the symmetrical triangle before takeoff but to me this looks like probability will favor and validate this pattern breakout. Being a monthly chart it may take several months to reach the breakout target but based on this simple macro pattern we are likely in for a very bullish 2021. Of course we are only just now on our confirmation candle for this pattern we must keep in mind that so far we only have 1 candle closed above it on the monthly..closing the current followup monthly candle above the pattern as well would be a very bullish sign in my opinion *not financial advice* if it were to hit its full target we should see price action reaching above 28k I'm guessing no later than Q2 of next year and a new ATH significantly sooner. *not financial advice*

3 set 2020

Nota

we can see that btc has had a temporary top at 12.5k. Many are expecting the price to come down and fill the gap at 9.6k including myself...however I think there's a real possibility we dip even lower than that in order to retest the top trendline of this monthly triangle pattern as solidified support at 8.6k. On average corrections during a bull market are around 31-42% and 8.6 k is right at 31%. So that makes for some really good confluence...even if we don't fall that low however if we break below the weekly inv h&s neckline at 10.5k I think the 9.6k gap fill is a guarantee.

19 dic 2020

Nota

if you hit play on this chart you can see that this measured move is playing out beautifully we are now 3/4ths of the way there.

27 dic 2020

Nota

Target hit precisely!!!