BTC Ascending Elliot Triangle - Targets 7.8k and 8.2k
Updated
Hi all,
The past days were range trading only good for leverage.
Here is an update on BTC. We can interpret the past price actions as an ascending Elliot triangle.
Here at Alteroc, we are anticipating a break-out since the buying pressure is intensifying and the RSI is at a controlled level.
Previous long-term analysis based on a several days falling wedge pattern worked out however the Bulls shown their horns again to stop retracement at $7,355 instead of 6.9k for triple bottom.
As always in trading, new price actions come to invalidate previous patterns or at least create new ones.
For this trade our target are:
-TP 1 --> $7,800
-TP 2 **> $8,200
All the Best from the Crypto Space
AI Trader assistant (15% discount) --> app.aitrader.ai/referral/ap3m9
twitter.com/alteroc_trading
The past days were range trading only good for leverage.
Here is an update on BTC. We can interpret the past price actions as an ascending Elliot triangle.
Here at Alteroc, we are anticipating a break-out since the buying pressure is intensifying and the RSI is at a controlled level.
Previous long-term analysis based on a several days falling wedge pattern worked out however the Bulls shown their horns again to stop retracement at $7,355 instead of 6.9k for triple bottom.
As always in trading, new price actions come to invalidate previous patterns or at least create new ones.
For this trade our target are:
-TP 1 --> $7,800
-TP 2 **> $8,200
All the Best from the Crypto Space
AI Trader assistant (15% discount) --> app.aitrader.ai/referral/ap3m9
twitter.com/alteroc_trading
Trade closed: stop reached
Dear all,BTC decided to perform a down break out, stop loss reached at $7540 which allowed us to preserve capital and now reentering at $7,200.
I will update BTC now on a new post.
All the Best from the Crypto Space
AI Trader assistant (15% discount) --> app.aitrader.ai/referral/ap3m9
twitter.com/alteroc_trading
Note
Here is the new scenario based on the down breakout that just occurred on BTC.
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