BitcoinLong
Huge Symmetrical Triangle on the Daily
I haven’t post charts in a while because I was busy. Excuse me to my 18 followers.
If we zoom out on the daily we can see a symmetrical triangle forming. As I stated earlier, there is more space for downside. But if we can manage to hold the upper support line we can make a good bounce. If we break to the upside the target is somewhere between 85-100K (depending on where the triangle breaks out).
If we break to the downside out of the triangle the technical target would be negative (which in my opinion isn’t very likely to happen). If we follow the same pattern as the previous uptrend it should be something like the yellow arrows are indicating.
This is my publication #16. Let me know what you think of it and if you have any questions, suggestions, feedback or other inquiries let me know and do not hestitate to send me a message and to leave a comment! I’m also just a trader.
If we zoom out on the daily we can see a symmetrical triangle forming. As I stated earlier, there is more space for downside. But if we can manage to hold the upper support line we can make a good bounce. If we break to the upside the target is somewhere between 85-100K (depending on where the triangle breaks out).
If we break to the downside out of the triangle the technical target would be negative (which in my opinion isn’t very likely to happen). If we follow the same pattern as the previous uptrend it should be something like the yellow arrows are indicating.
This is my publication #16. Let me know what you think of it and if you have any questions, suggestions, feedback or other inquiries let me know and do not hestitate to send me a message and to leave a comment! I’m also just a trader.
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