Bitcoin $BTC Descending Triangle - Short Term Target $7999

Short-Term: 404, buyers not found. If Bitcoin BTCUSD was going to break into new highs before retesting some lower support, it would have done so at this last peak at $12,250.

Since then bears have been in control, and have formed a descending triangle. Target is very low $8000 range, but given the strength of the move I think BTC price will wick into the high $7000 range before bouncing back toward $9,600 - $10,000 where it will be rejected and confirm former support as resistance.

Long-Term: I believe we will range lower between $6,000 and $10,000 for a couple of months before reclaiming this current trading range of $10,000 to $14,000 is reclaimed. After that, new ATH in early 2020. Then top around December 2020 at 73K range. Next range bottom after that is $13,800 - where we were rejected from in late June.