Time for alt season?
The pattern just broke down on the BTC .D chart. Typical for that set is to appear when the price consolidates, and if confirmed, it’s predominantly a continuation pattern of the long term trend.
Trade opening should be upon once the support(blue) is broken and retested as resistance.
Target a.k.a. Take Profit(purple) should be the vertical distance between resistance(yellow) and support(blue) at the starting point of the .
Stop-Loss(red) should be placed slightly above the resistance of the wedge(blue).
Win to lose ratio: approximately 3:1
Last but not least, the above scenario perfectly coincides with the #divergence (orange) on the .