BTC..Breaking Out The Giant Triangle

8. Feb. 2018

a breakout of the triangle or the weekly 20 MA which is WMA 200 on the daily can be bullish or bearish.. we have very similar almost identical breakouts from 2013 with opposite outcomes..

8. Feb. 2018

Anmerkung

I am more inclined to the bullish breakout as long as no mt.gox like incidents..the long boring accumulation would be in the 9-11k area..

8. Feb. 2018

Anmerkung

however a prolonged selloff or bust in the stock markets would heavily effect the cryptocurrency market as it happend at the start of the week.. which led me to question the whole purpose of bitcoin as it meant to be a safe heaven like gold..

I compared thh massive selloffs /crashs of the stock market starting from 2010 and bitcoin took a hit at each of them..please do check yoursekf also ..