BTS/BTC - Descending Triangle @ 1D chart
Updated
The descending triangle might indicate a bearish breakout. Volume is still low, not a lot of action around this coin.
It reacts to the BTC price fluctuations properly, but other than that, not much yet.
Lets hope the descending triangle is not correct and that it will break upwards instead of downwards.
It reacts to the BTC price fluctuations properly, but other than that, not much yet.
Lets hope the descending triangle is not correct and that it will break upwards instead of downwards.
Note
If it turns bullish and breaks out, a decent target would be the recent high (230 sats). I will probably sell there, then await the correction wave to buy it back again at a cheaper price (~150 sats).At the moment, it is looking fine. Slowly it climbed back a bit and nearly recovered completely from the damage BTC did. Lets hope we can go beyond this point soon.
Note
UPDATE: Seems like it is breaking upwards. However, this is not yet convincing enough. If the candle closes above 118 sats today, I think we have a good chance of a bullish breakout.Note
Seems like we broke out upwards, good. Orderbook is getting stronger, volume still low. I think we will see an increase in volume before it pumps. I think & hope this is just the beginning.
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