The coming BTC correction for KRAKEN:XBTUSD by Crypto_Analytics — TradingView


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!



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