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DrDovetail
Aug 9, 2019 6:47 PM

Diamond pattern has matured into a more symmetrical shape. Long

Bitcoin / United States DollarCoinbase

Description

As with many patterns, triangles, pennants etc. . .as they develop they tend to morph, or widen and change shape. We can see this also the case with the diamond pattern we have been consolidating in. It has now matured into a much more symmetrical shape and in fact can now at this point be looked at as a symmetrical triangle as well as they both will have the dame breakout target of 12.9k. The fact that it could also very easily be a valid symmetrical triangle is a good thing because symmetrical triangles are almost always continuation patterns and the pattern before now was indeed very much up which makes a bullish breakout the most probable.
Comments
CanadaTrader
How do you come up with the target off the diamonds Dr.
DrDovetail
@CanadaTrader, the distancee between the low and the high is the measured move.
Tiger_Style
Nice Job homie
DrDovetail
@Tiger_Style, thank you much.
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