Bitcoin in a triangel? Could it go down to 12300-12500 before it starts its Bull run?
I think it looks like Bitcoin has been in a triangle all the time since the last big down and that it now starts its final dip before it starts a new race upp.
Elliotts (correction) Triangle Wave in a triangleform like this has E as the last bounce and that will be around 12300-12500 i guess.
Another possibility is the flagformation in the top of the tringle where Bitcoin works right now. Its a simular formation but a flag insted. Its small and i don't think that it has the force to go through the heavy resistensline.
You also se that its formed the other way around. The E ends att the top of the flag.
I think one can draw it like this an if thats the case it should bounce downwords through lower resistence line (or what its called in english):)
We'll se what happends tonight (at least in Sweden:)).
I have just sold my Bitcoin an will wait untill it drops down in the bottom of the triangle.
God trading night
THIS IS JUST MY THOUGHTS ABOUT BITCOIN RIGHT NOW AND SHOULD NOT BE SEEN AS A TRADING ADVISE.
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