BitcoinShort
BTCUSD THE ASCENDING TRIANGLE CHART PATTERN
Still the same chart set up as ETHUSD, the only difference between this chart and ETHUSD chart are the rejection wicks on this BTCUSD which shows that price was rejected based on different move to break the resistance and support.
In an ascending triangle , the resistance line runs parallel while the support line is rising. To avoid false breakouts, we again recommend waiting for three peaks (or three valleys, respectively)
Entries are based on breakout and the close of the price above the resistance.
VERDICT:
BUY/LONG: $3511.2
SELL: $3530 up to $3544
STOP LOSS:$3498.1
Remember TECHNICAL ANALYSIS is all about probabilities and based on previous market performance(not all about certainty)
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.
In an ascending triangle , the resistance line runs parallel while the support line is rising. To avoid false breakouts, we again recommend waiting for three peaks (or three valleys, respectively)
Entries are based on breakout and the close of the price above the resistance.
VERDICT:
BUY/LONG: $3511.2
SELL: $3530 up to $3544
STOP LOSS:$3498.1
Remember TECHNICAL ANALYSIS is all about probabilities and based on previous market performance(not all about certainty)
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.
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.