Descending triangle formation. Possible 50% drop capitulation.

15 ago 2019

Bitcoin now is forming a descending triangle similar to what we've seen in 2018. The flat support line is 9100. Given the tripple strong rejection at 13.8k, 13.2k and 12.2k. It's now highly likely we will break the flat support. A savage capitulation similar to the one in Dec 2018 is in progress. We may get some bounce at 8500, 7200 and 6200 levels. A sharp drop to 5000 is likely. It seems the 2019 rally is a sucker's rally.However, don't lose hope. buy bitcoin when there is significant drop.