BitcoinLong
BTCUSD - ascending triangle anyone ?
OK, this may be a bit of a stretch but to me it looks like an ascending triangle on the daily chart. The top has been touched twice and the bottom 3 times, making this pattern valid.
Expectation would be to at least retest the top of the triangle at $10500, if a break upward were to occur it would put the target in the
12K range.
I am long on this pattern now, stop loss to be set $150 below the lower triangle border and adjusted over time.
any drop and close below the lower boundary of the triangle would be either a breakdown or invalidation of the pattern, and I would short at this point with a target of $8000.
Good luck.
Expectation would be to at least retest the top of the triangle at $10500, if a break upward were to occur it would put the target in the
12K range.I am long on this pattern now, stop loss to be set $150 below the lower triangle border and adjusted over time.
any drop and close below the lower boundary of the triangle would be either a breakdown or invalidation of the pattern, and I would short at this point with a target of $8000.
Good luck.
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