BTC The Ultimate Rhyme: An Analysis of Triangles
Here we have a simple symmetrical triangle, which I at the time determined it would have an upward break out. The reasoning for the upward break out can be found in my previous analysis. However, in this analysis, I wanted to state that this triangle rhymes with the larger symmetrical triangle that we are currently in. There is not much to say other than the phases look similar.
An important note should be that concave up is generally bullish and concave down (convex) is generally bearish, in this chart there is a concave up formation which can be seen in orange.
Current Analysis:
An important note should be that concave up is generally bullish and concave down (convex) is generally bearish, in this chart there is a concave up formation which can be seen in orange.
Current Analysis:
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