BTC medium-term - 15 Jan by bitbrain

bitcoin · @bitbrain · Jan 15 '19

$2.51

BTC medium-term - 15 Jan

<h2>A look at the medium-term future of BTC as I see it.</h2>
<p>BTC is forming another converging triangle, making a breakout a strong possibility from next week.</p>
<p>The lower side of the triangle seems to have been defined. This is not a certainty at this stage - it's not impossible that a near-future price drop redefines the triangle. I would say that there is about a 65% probability that the triangle is now in it's final form and will not have to be redefined.</p>
<img src="https://mentormarket.io/bitbrain/wp-content/uploads/sites/7/2019/01/15a-1024x606.png" alt="" class="wp-image-2811" />
<p>A trendline which started on 6 December continues to be my benchmark for current price movements.</p>
<img src="https://mentormarket.io/bitbrain/wp-content/uploads/sites/7/2019/01/15b-1024x606.png" alt="" class="wp-image-2810" />
<p>The typical Breakout Zone of the tapering triangle lies only a few days away. BTC will enter that zone on 20 January. From that time a breakout could occur at any time. Looking at market volatility and Fundamental Analysis, I consider a breakout very likely (around 80% probability) and I do not expect sideways movement to continue in the medium-term.</p>
<img src="https://mentormarket.io/bitbrain/wp-content/uploads/sites/7/2019/01/15c-1024x604.png" alt="" class="wp-image-2813" />
<p>I expect BTC price to move something like I've indicated with the white arrow during the course of the next week, climbing in price to the resistance at the top of the triangle.</p>
<img src="https://mentormarket.io/bitbrain/wp-content/uploads/sites/7/2019/01/15d-1024x611.png" alt="" class="wp-image-2814" />
<p>From there the most likely scenarios are either a definitive positive breakout or a bounce off the top of the triangle and a drop back to the support offered by the triangle bottom.</p>
<img src="https://mentormarket.io/bitbrain/wp-content/uploads/sites/7/2019/01/15e-1024x609.png" alt="" class="wp-image-2812" />
<p>Basing my call on the direction of my medium-term trendline, positive sentiment created by the Winklevoss twins this week, increasing long-term volume and the long-awaited Ethereum Constantinople upgrade, I assess that the positive breakout is the most likely scenario. I would put that probability at 80% if the triangle remains unmodified. </p>
<p>At this stage it is too early to say how high such a breakout would climb. Remember, we are nowhere near clear of Dead Cat Bounce territory or the prospect of a new 1 year ATL yet, BTC has to climb several thousand dollars for that to be confirmed. I'll keep an eye on the situation and publish further calls as new information becomes available.</p>
<h4>Yours in crypto</h4>
<h4>Bit Brain</h4>

<img src="https://steemitimages.com/DQmemKc65ki6LjiCkrSdcwJPxwJfLxx6rnererZkWzPhNVK/Coin%20line%20mini.png" alt="">
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steempress-io	1,408,336,531,190	3.5%
akertxu	530,135,400	100%
bitbrain	15,299,448,104	100%
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blewitt	7,155,153,747	1.9%
sajkus	1,194,251,956	1.9%
abcor	588,716,055	0.1%
robinhoodgive	675,520,875	100%
robinhoodupme	469,600,299	24%
steemexpress	897,709,773	1.67%
stmpay	5,827,302,445	1.81%
timm-caja	91,824,054,519	100%
bluesniper	5,913,970,243	0.36%
scripsio	779,716,462	20%
supu	5,573,461,509	1.5%
sanamang	0	5%

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