Stamp Triangle Nearing Completion
(As a TA newbie, this is mainly a post for myself)
The triangle has been well documented across TradingView already, however there was a lot of difference of opinion what the most important trendlines were.
Stamp / Houbi has been leading Gox during this phase - meaning we should give more weight to Stamp than we historically would have.
Not going to try and guess the outcome, will wait to see what the chart tells us.
Also, consolidations patterns can result in a larger move in either direction - however the news of late is seems to be favouring the bulls.e.g. news of TigerDirect (which has ~twice annual revenue than Overstock ($2.0 Billion+) near the conclusion of this triangle may give this a bullish bias. eBay, Google rumours have also cropped up in the last 48 hours etc.
The triangle has been well documented across TradingView already, however there was a lot of difference of opinion what the most important trendlines were.
Stamp / Houbi has been leading Gox during this phase - meaning we should give more weight to Stamp than we historically would have.
Not going to try and guess the outcome, will wait to see what the chart tells us.
Also, consolidations patterns can result in a larger move in either direction - however the news of late is seems to be favouring the bulls.e.g. news of TigerDirect (which has ~twice annual revenue than Overstock ($2.0 Billion+) near the conclusion of this triangle may give this a bullish bias. eBay, Google rumours have also cropped up in the last 48 hours etc.
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