POE is working on a massive bull flag + Symmetrical Triangle
Updated
Pretty self explanatory. POE is traveling in a descending channel atop the flag pole from the most recent bullish movement AKA bull flag. Within the flag there is a symmetrical triangle (blue lines). RSI is respecting the uptrend on the 4 hour. Expectation (assuming BTC behaves) is that price will continue to appreciate, with a break up of the triangle leading to a break out of the ascending channel. Targets are the top of the channel and fib lines.
1. The cryptocurrency market is extremely volatile.
2. Targets are potential expected reach, not guaranteed.
3. Resistance and support levels are elastic, not static.
4. I cannot advise you when to enter or exit a trade, only provide the trade set up, so trade accordingly.
5. Traders should never trade more than they can afford to lose as each trade is based on possibilities, not guarantees.
1. The cryptocurrency market is extremely volatile.
2. Targets are potential expected reach, not guaranteed.
3. Resistance and support levels are elastic, not static.
4. I cannot advise you when to enter or exit a trade, only provide the trade set up, so trade accordingly.
5. Traders should never trade more than they can afford to lose as each trade is based on possibilities, not guarantees.
Note
POE predictable broke out of both the symmetrical triangle AND the bull flag (descending pink channel). Target for this entire move (will take time) is roughly 200 above the point of breakout, or in the area of 760-780. Enjoy your money.
scott.melker@texaswestcapital.com
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