BTC descending triangles with a possible strong upward breakout

If it follows its wave pattern, upward breakout is highly probable. That last bounce off weekly S (red line) is also positive move.

Note

Ignore the strategy panel :) This is just some crap I forgot I had running on this chart.

Note

Because all sorts of triangles and sloped lines fail when when markets moves sideways, I added a yellow box to mark the important area. Call it the decision zone, if you like.

Note

IF you noticed, there is also a nice little #Gartley Pattern on this chart

Note

Gartley worked out nice.

There is the top edge of the descending triangle (A), market seems to follow religiously but the vertex is not that far any more.

Note

Triangle "A" is the one that market keeps "following" at least for now. "W" is still there

Trade closed: stop reached

lot's of cheap bitcoin for everyone!

alskdj

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.

alskdj