BNB/USDT Symmetrical triangle breakout imminent
BNBUSDT on the 3hourly forming a symmetrical triangle, breakout imminent.
I have applied a fib retrace and as you can see it is holding strong support on the 62% at $247 which has retested 3 times in the last week.
A bullish symmetrical triangle is a bullish continuation chart pattern. The pattern is formed by two converging trend lines that are symmetrical in relation to the horizontal line.
For the symmetrical triangle to be called "bullish", the movement preceding the triangle’s formation must be bullish, in which is the case with BNBUSDT.
A bullish symmetrical triangle is confirmed/valid if it has good oscillation between the two lines.
The price objective for a bullish symmetrical triangle is determined by the height of the base of the triangle plotted at the breakout point (exit from the triangle).
GLTA
I have applied a fib retrace and as you can see it is holding strong support on the 62% at $247 which has retested 3 times in the last week.
A bullish symmetrical triangle is a bullish continuation chart pattern. The pattern is formed by two converging trend lines that are symmetrical in relation to the horizontal line.
For the symmetrical triangle to be called "bullish", the movement preceding the triangle’s formation must be bullish, in which is the case with BNBUSDT.
A bullish symmetrical triangle is confirmed/valid if it has good oscillation between the two lines.
The price objective for a bullish symmetrical triangle is determined by the height of the base of the triangle plotted at the breakout point (exit from the triangle).
GLTA