BTC Descending Triangle after downfall
Updated
Good evening trading people,
after a long weekend and some days of absence I'm back with a new idea that I want to share with you.
After the prices went down last night, I can now see a Descending Triangle in
BTCUSD. I have marked this in light green. At the moment the candles are bouncing close to the support line of around 3400 $. RSI and MACD are raising again.
As always in the last time volume is too low at the moment. Perhaps bulls are regenerating power and waiting for a jump up.
Will we see a breakout at the end of the triangle? Could be that we reach 3580€ with a pump up. This will take place at the end of the week - latest.
What do you think? Is it going up or down next? Please support me with a thumb up and a comment. I would appreciate this :)
I will try to update this post frequently.
See you guys, trade on, Muckrah
By the way: this is just an idea and no trading advice. So trade on your own risk - like I do :)
after a long weekend and some days of absence I'm back with a new idea that I want to share with you.
After the prices went down last night, I can now see a Descending Triangle in
BTCUSD. I have marked this in light green. At the moment the candles are bouncing close to the support line of around 3400 $. RSI and MACD are raising again. As always in the last time volume is too low at the moment. Perhaps bulls are regenerating power and waiting for a jump up.
Will we see a breakout at the end of the triangle? Could be that we reach 3580€ with a pump up. This will take place at the end of the week - latest.
What do you think? Is it going up or down next? Please support me with a thumb up and a comment. I would appreciate this :)
I will try to update this post frequently.
See you guys, trade on, Muckrah
By the way: this is just an idea and no trading advice. So trade on your own risk - like I do :)
Note
Meanwhile, to be more exact I should say "over night" the candles broke down the triangle.I still think we will see a push back into it and then we are back on track.
Note
As I was analyzing the one hour BTCUSD Chart I detected this Falling Wedge (painted for you in blue). Could be, that we will see a massive pump in the next few hours...I will check this for you and will update this post frequently :)
Note
That looks very good. A few more steps up and we are back on track inside my green triangle :)Note
A brief update:- The chart is rolling on.
- Hours are moving forward.
- Still inside the triangle.
- We need more volume to pump it up.
- No need for a new screenshot.
I keep you up tp date.
Note
Still on the edge of the triangle, finding a bottom at around 3405 $.Looking not good at the moment. We don't need a dump, we need a pump up!
And here you can help up...
Note
Nice pump a two hours ago :)The blue Falling Wedge fulfilled its job as assumed.
We are still inside my light green triangle and are waiting for next pump or maybe a breakout...
Note
Still inside the light green triangle. So we are still on track, waiting for the breakout...Note
At the moment the chart is going down again a little bit. But we are still inside the triangle and that is all that counts for now :)Fingers crossed that we don't leave this triangle and go up a little bit more...
Note
A few hours ago we left my light green triangle, but now we are back with a little pump. Now I am excited what will happen next. Pump or dump, that's the question. Don't forget its weekend and usually the volumes are falling...So, come on bulls, where are you now..?
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