Ascending Triangle forming - Breakout again

4 mag 2018

Hi everyone,

A quick update on bitcoin. Bitcoin seems to form an ascending triangle. See reference here: swing-trading-strategies.com/wp-content/uploads/2012/08/ascending-triangle.gif
If you check the hourly RSI you can see that the first dump was hard, the second one was soft. Alot of buyers can be spotted in the second dump - green candles - aka accumulation.
You can see that selling pressure diminishes. I think we are almost ready to pump again.

Please remmember that this is just an scenario. Do your own research. Humans make mistakes.

Greetings,
Vincent

4 mag 2018

Nota

Breakout attempt 3

4 mag 2018

Nota

I'm seeing some rejection wicks. It's still possible to breakout now but there is also a possibility of a final detour. It's common in ascending triangles. If it would turn into a rejection something like this will probaly happen:



But for now.. lets see if it doesn't already breakout right now.

4 mag 2018

Nota

Looks rejected. No volme coming in yet.. Well probaly we have to wait a day again. Heading to bed now.. Will keep you guys posted on this trade

5 mag 2018

Nota

Morning everyone! Very nice you can see while I went to bed it decide to break out!
It's very common to atleast test our ascending triangle as support.

If im right, this should how and we should move up very soon.

5 mag 2018

Nota

And with 'how' I mean 'hold' ofcourse - Typo

5 mag 2018

Nota

We are doing a test of the Ascending Triangle as a support line now. If it is strong enough this should be the final pullback before moving to 10k. Lets hope it can hold.

5 mag 2018

Nota

1HR. You can see it is coming up again. The wedge is strong. Heading to bed now, could still rumble around a bit but I think we're good again