RE: Bitcoin (BTC) Morning Update: Why Am I So Bullish on Bitcoin?

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Bitcoin (BTC) Morning Update: Why Am I So Bullish on Bitcoin?

in bitcoin •  7 years ago 

Hello, many thanks for TA.
I just made an acount on bitcoin live.
I have a curiosity which i do not understand, why the triangle is bullish and not bearish like this :
![bear btc.png]
()

Thanks !

bitcoin
7 years ago by

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      ·  7 years ago 

    A symmetrical triangle and the MACD triangle indicate that a massive price action is happening -either huge price pump or massive price crash. However, Haejin believes that a massive bear market to the 2 or 3ks is very unlikely as he believes in the value of cryptocurrencies, so he favors the bullish scenario.

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        ·  7 years ago 

      Many thanks for the explanations!

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          ·  7 years ago 

        Indeed, same question. The same applies for the picture with the purple wedge...

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            ·  7 years ago (edited)

          A rising wedge is indeed bearish. However, he is saying there are more bullish signs -inverse head and shoulders and the Elliott Wave count- than the bearish signs. Although most rising wedges break down, not all do. He is suggesting that due to the bullish signs, the wedges may be invalidated.

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              ·  7 years ago 

            crazy analysis!

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