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The coming BTC correction
BTC is currently consolidating in a symmetrical triangle. Soon BTC will have to decide to breakout (purple scenario) or breakdown (red senario).
Personally I think the red scenario I more probable because of the coming uncertainty in the stock market due to the coming elections. Usually the stock market have a drop towards the elections; and as you know the stock market is highly correlated with BTC.
For the breakdown I expect a price target around 9000 - 9205$. But for this to occur the local low at 10150$ needs to be broken first!
Personally I think the red scenario I more probable because of the coming uncertainty in the stock market due to the coming elections. Usually the stock market have a drop towards the elections; and as you know the stock market is highly correlated with BTC.
For the breakdown I expect a price target around 9000 - 9205$. But for this to occur the local low at 10150$ needs to be broken first!
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