Price Action Inside a Symmetrical/ Running Triangle
Breakout Typically 2/3 to 3/4 of Pattern- A little late due to BTC Segwit Dates
FYI- Same charting on Coinigy shows accurate dates of breakout between- 11/10/2017- 11/20/2017- which matches with Segwit Release on 15th or 16th
If Apex of triangle is broken- Pattern Weakens and losses potency
Looks like Elliot Wave Flat Triangle Correction almost complete, with retest of the bottom boundary- which is common before breakout on opposite boundary line.
Long Term Target $680 or $700 Psychological
Time Frame- approximately 12/01/2017
Time Frame is based on APEX and upward parallel channel line crossing-personally I think that sounds too soon, but we will see.
After BTC fork money should leave BTC and enter Altcoin.
BTC rally will increase confidence in this space and force new BULL market cycle for all Altcoins.
Breakout Typically 2/3 to 3/4 of Pattern- A little late due to BTC Segwit Dates
FYI- Same charting on Coinigy shows accurate dates of breakout between- 11/10/2017- 11/20/2017- which matches with Segwit Release on 15th or 16th
If Apex of triangle is broken- Pattern Weakens and losses potency
Looks like Elliot Wave Flat Triangle Correction almost complete, with retest of the bottom boundary- which is common before breakout on opposite boundary line.
Long Term Target $680 or $700 Psychological
Time Frame- approximately 12/01/2017
Time Frame is based on APEX and upward parallel channel line crossing-personally I think that sounds too soon, but we will see.
After BTC fork money should leave BTC and enter Altcoin.
BTC rally will increase confidence in this space and force new BULL market cycle for all Altcoins.
Trade closed: target reached
booked some profit $476entered at $283
remainder of position in play
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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.
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.