Symmetrictriangle
Next bullish move in DeFi Chain?From a purely technical standpoint - this chart pattern is bullish. If you ignore the ugly spike on November 11th, this is a nice symmetric triangle which, as it occurs in a bullish trend, is more likely to get resolved to the upside.
Of course, it all depends on what BTC is doing, but the likelyhood that the trend will continue in the 1st half of next week is a bit higher.
KISS BTC 😘K eep I t S imple S tupid - also in Bitcoin.
I've drawn a triangle over the chart in D1 and a bigger triangle in W1. Using only the daily resp. weekly closing prices. And this triangle looks valid to me.
I've seen people drawing wedges or flags in the charts but the triangle is a more reliable chart pattern. So it may take a few days in the daily chart or 1-2 weeks in the weekly chart until this formation gets resolved but it will get resolved finally. ;)
And yes, it's more likely that symmetric triangles get broken to the upside. I think then we see 75k as the next stop.
LONG - ARN - Trading OpportunityBINANCE:ARNBTC on a symmetric triangle formation, looking ready to break upwards.
Would buy on a breakout with a stop below.
Entry: 0.00001850
Target 1: 0.00002034
Target 2: 0.00002191
SL: 0.00001784
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