It seems that Bitcoin is forming an Ascending Triangle on the Daily TF. Following are some Key Takeaways to consider.
Source of these takeaways are from Investopedia, as I think that this Article matches pretty much what I think about "Ascending Triangles"
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This Analysis is not intended to be investment advice. Always DYOR.
- The trendlines of a triangle need to run along at least two swing highs and two swing lows.
- Ascending triangles are considered a continuation pattern, as the price will typically break out of the triangle in the price direction prevailing before the triangle, although this won't always occur. A breakout in any direction is noteworthy.
- Target is calculated by taking the height of the triangle, at its thickest point, and adding or subtracting that to/from the breakout point.
Source of these takeaways are from Investopedia, as I think that this Article matches pretty much what I think about "Ascending Triangles"
If you like my Content, hit the 👍 and/or comment and make sure to follow.
This Analysis is not intended to be investment advice. Always DYOR.
Note
Bitcoin seems to have broken out, Currently testing the upper Trendline from the Ascending Triangle. If the retest is successful bitcoin should have a really nice bounce. Target is at 54'4k. 52k is going to be a significant Level to break.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Web:
UNDER C.
Follow me on Twitter:
twitter.com/blauersamt_
UNDER C.
Follow me on Twitter:
twitter.com/blauersamt_
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.