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ScotianBot
Apr 18, 2021 11:31 PM

Fake-out of an Ascending Triangle for BTC? 

Bitcoin / United States DollarCoinbase

Description

It appears as though Bitcoin has pulled a fake-out to the upside of an ascending triangle but has found support on the blue upward sloping support of the pattern..

On the RSI there's clearly a lower high after lower high since BTC reached ATH's forming a descending triangle pattern, but the downward sloping resistance is on the verge of being breached to the upside.

On the KST there's a bullish cross where I've placed the blue downward pointing finger.

Every time BTC has broken the horizontal resistance to the upside there has been a swift rejection by the bears.

I have placed red downward pointing fingers displaying how often this has taken place to put things into perspective.
Comments
baris3
This is not a ascending triangle, it can be a bearish wedge. Your chart makes no sense. Learn from my chart :
ScotianBot
@baris3, Just because you don't understand something doesn't mean it doesn't make sense, you're merely not educated enough to see beyond your own biased perception!! Your chart is basic and the downward sloping resistance on your pattern is already being negated to the upside. Get lost with your arrogant comment.
ScotianBot
Same chart but done on a line chart.
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