BTCUSD Triangle breakout scenarios
Updated
Hi guys.
Overlooking recent movement of the price, Bitcoin has been forming a triangle pattern while consolidating after hitting 13800usd just 2 days ago.
After observing the pattern, I say that there are 2 scenarios:
Blue: We breakout at 23300usd, the projected target is 24800usd.
Yellow: we get rejected and continue consolidating, which whould lead to a possible scenario of a descending triangle pattern playing out therefore the bearish breakout target is 21000usd est.
Not financial advice, DYOR.
Let's see how bulish we have become.
Double bottom as well posiibly playing out
Both outcomes are likely to happen since we want to maintain a healthy market.
Like, comment, share opinions!
Cheers!
Overlooking recent movement of the price, Bitcoin has been forming a triangle pattern while consolidating after hitting 13800usd just 2 days ago.
After observing the pattern, I say that there are 2 scenarios:
Blue: We breakout at 23300usd, the projected target is 24800usd.
Yellow: we get rejected and continue consolidating, which whould lead to a possible scenario of a descending triangle pattern playing out therefore the bearish breakout target is 21000usd est.
Not financial advice, DYOR.
Let's see how bulish we have become.
Double bottom as well posiibly playing out
Both outcomes are likely to happen since we want to maintain a healthy market.
Like, comment, share opinions!
Cheers!
Trade active
we are developing a bigger ascending triangle by my opinion, although a rising wedge maybe in play as wellTrade active
Well, it has partialy hit both tagrets believe it or not and now is establishing in between 23300-22600. We can exoect the next leg up since the dips have been bought in no time. Have been holding our one of the drawn trendlines/blue/.
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