There is a chance to see $380+ soon [With charts]

[Fakhoury]

Hey all,

I've saw this chart on TV by BuyBitcoins and my gut says that it may happen, why not  



The wave pattern is called "Descending Triangle Wave Pattern"



What do you think ?

[RyNinDaCleM]

Hey all,

I've saw this chart on TV by BuyBitcoins and my gut says that it may happen, why not  



The wave pattern is called "Descending Triangle Wave Pattern"



What do you think ?

If you will notice, a descending triangle has a flat horizontal lower bound. This has an ascending lower boundary so it's considered a symmetrical triangle.

But yes, there is a very good chance this is a triangle. However, I don't know how he came up with $380 as his target. That would be a 100% extension of the rise we've already seen. If this is a wave 4 triangle, then the target would be lower than that.
Using typical triangle thrust targets, I expect the area of the blue box as the target.


This is assuming this lopsided triangle is complete at this time.

[ashour]

This spike looks too optimistic to happen. Lines on charts aren't accurate they are like hand reading for trading. $300 seem more possible than $380, only time will tell.

[premium_domainer]

Yes. Might be next stable point is $330 (nearby) likewise $240 to $280 stable. 

[randy8777]

there is way too much selling pressure at this point to go over $300. beside that, a lot people have had plenty of time to buy coins and are waiting for the price to go up. seems everyone is waiting, sellers and buyers.

[AtheistAKASaneBrain]

Hey all,

I've saw this chart on TV by BuyBitcoins and my gut says that it may happen, why not  



The wave pattern is called "Descending Triangle Wave Pattern"



What do you think ?

If you will notice, a descending triangle has a flat horizontal lower bound. This has an ascending lower boundary so it's considered a symmetrical triangle.

But yes, there is a very good chance this is a triangle. However, I don't know how he came up with $380 as his target. That would be a 100% extension of the rise we've already seen. If this is a wave 4 triangle, then the target would be lower than that.
Using typical triangle thrust targets, I expect the area of the blue box as the target.


This is assuming this lopsided triangle is complete at this time.

The lower bound is not angled enough to be a clear full blown symmetrical triangle, so this angle could indicate that there are big % of a descending triangle wave pattern behavior, who knows what will happen tho, time to take some risks if you want to short. Im holding anyway.

[Pk880058]

If this is going to happen then I better buy more and more Bitcoin now.
The return over investment will be pretty good without much risks involved.

[lexuz]

It's double chance, i mean price can up or down but i hope your prediction is right. Because i have waiting bitcoin price back strong in charts

[farting_shot]

It's double chance, i mean price can up or down but i hope your prediction is right. Because i have waiting bitcoin price back strong in charts

His prediction is proving to be WRONG!!! Btc price is CRASHING since his prediction was made. Thanks to OP, we're now looking at sub 270. I think it's going down to sub 200 soon.

[kwukduck]

If there ever was any chance,  it's gone now.

[MinerHQ]

It's double chance, i mean price can up or down but i hope your prediction is right. Because i have waiting bitcoin price back strong in charts

His prediction is proving to be WRONG!!! Btc price is CRASHING since his prediction was made. Thanks to OP, we're now looking at sub 270. I think it's going down to sub 200 soon.

Yes I think BTC price going back to around 200 level. Crossing 300 in near future may be quite challenging. Trade with carefully

[MF Doom]

It's double chance, i mean price can up or down but i hope your prediction is right. Because i have waiting bitcoin price back strong in charts

His prediction is proving to be WRONG!!! Btc price is CRASHING since his prediction was made. Thanks to OP, we're now looking at sub 270. I think it's going down to sub 200 soon.

Yes I think BTC price going back to around 200 level. Crossing 300 in near future may be quite challenging. Trade with carefully

I am starting to think the same thing. Crossing $300 a few weeks ago certainly seemed too good to be true...and it was.  Just a very weak run up, which I'm sure the whales and astute traders saw coming, and used it to their advantage.  Now that runup has deflated back to the $250 level it that we were hanging arond, and I'm not so sure we can even hold that

[peligro]

I hope not many believed that prognosis. We are down very much since then.

It's a pity how unpredictable the bitcoin price is. I mean here were so many that thought it is possible to predict but it wasn't again.

[randy8777]

I hope not many believed that prognosis. We are down very much since then.

It's a pity how unpredictable the bitcoin price is. I mean here were so many that thought it is possible to predict but it wasn't again.

yeah, no one can predict the bitcoin price. i have seen so many predictions here and on several respected crypto news sites, and most of the time they are wrong. no matter how long you trade bitcoin or how much you know about markets, bitcoin is and will stay unpredictable for quite some years.

[smoothie]

Looks like this forecast was wrong.