I just keep seeing this big ascending triangle ..

Everytime is see the chart on the mainsite, i keep seeing this huge (i mean it's HUGE) ascending triangle with a target of around $5300 ..

But it's probably nothing .. we all know it's just gonna go to zero or even worse..

Comment:

Another member just pointed something out to me which needs explaining.
(copy-paste from my reply to him about the subject at matter)

Typically an ascending triangle is perceived as a continuation pattern, yes.
But it's also known to possibly break out the other way!
Don't just 'textbook' the knowledge and expect it to happen in that exact way. Look closer at the underlying structure of it (different every time), it touched the upside 4 times already and the downside only 2 (the minimum to even be a valid triangle). The fact that it keeps going up easier then down tells me people want up, so i give it a significantly bigger chance of that direction (and then the 5k would be the 'logical' target)

Comment:

purple line dividing upper and lower section
Most action takes place in the upper half signalling the intent in advance (no guarantee of course, nonetheless the intent is there)

Comment:

Comment:

timing was right on the last image (small timeframe)
direction .. was a little of .. about give or take 180degrees

Trade closed: target reached:

and that's another one
almost spot-on price- and time-wise
:)