Triangle directing Bitcoin to the top C, pattern AB = CD

4 Oca 2019

The graph shows an upward bearish triangle, continuing to move along a downtrend. Cornelius Luca (reputable trader) explains this model in the following way - despite consolidation, demand is still lagging behind the supply.

It is clear that the resistance (supply) near $ 4,100 BitFinex, exceeds today's demand.

The possibility of forming a harmonious pattern AB = CD, and its goals were considered earlier:

4 Oca 2019

Not

For the continuation of further growth, it is logical to unload the long positions that have grown on expectations, and to increase the shorts during the fall


Futures market has reached the top of the downward channel

4 Oca 2019

Not

We went down, adjusted the support of the triangle. When breaking through, you can consider opening the short