DESCENDING TRIANGLE

Bitcoin is in a massive descending triangle and will break down in the coming days. According to technical analysis, the base of the triangle can be used as a target of the breakdown, which means the price of bitcoin will go to - $1000. This means that for every bitcoin you own, you will actually have to pay $1000. Not trying to FUD or anything, but do with this information what you will.

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Your lines dont fit well. You can choose the "triangle base" arbitrarily. KYS

what if don't own 1 bitcoin, where can I reclame thoses 1000$ everyone will have to pay?

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I wonder if Peter will be forced to delete this tweet also.

Where's Z? We need his wisdom.

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Wrong.

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Descending Triangle has about 75% of being a continuation pattern and a 25% chance of being a reversal pattern. In other words there's a 1 in 4 chance that this pattern reverses the trend (from down to up that is for you brainlets)

The prophecy foretells that there will be a shortsqueeze which will push BTC to 7k and then it will go down, break the triangle and head down into the abyss.

To avoid getting caught by something like this, just wait for confirmation of where the breakout is looking like it's occurring. To the up or downside, where-ever.

>mom, i draw again

According to African vodoo, a downward triangle means that your wife is sleeping with another man.

yes, wait for "confirmation", you buy in it goes the other way and now it's called a "fake-out".
95% of ta is bullshit

to trade TA like this effectively you need to trade every damn triangle and before you do that you need to back-test the pattern for profitability. that's how people make money with a TA strategy
if you just trade one of this and one of that you'll never be able to get the math right. if you do want to trade this specific setup just wait for a break below or break up and enter on the retest
i would go for a break lower because you shouldn't trade counter-trend. it's fucking retarded

And if that happens, do you sit on your ass, and watch your position wipe you out entirely, or do you exit?

And if it goes your way, do take profit immediately, or do look for reasons to hold on for as long as possible, maybe even add to it?

It's like you people need to be spoonfed every fucking thing. There is no guarantee in trading, so you have to think about every situation and plan on how you'll react.

Not always does it retest, that's another myth about these things.

I'm not talking about trading, I'm talking about most of TA

I would imagine the $1000 has to be paid back to the person you bought the bitcoin from

TA is unironically complete bullshit. Anybody who thinks otherwise has no understanding of statistics whatsoever.

Altcoiner, in the balance you hang.

TA unironically works well in a bullmarket, meaning when everything is going up on average it's easy to spot things that will outperform most coins, because the sentiment is so good and strong that every bullflag, triangle, every bullish patterns works way better than during a bear market.

this is going to happen

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unironically kys sage lol