The real ascending bull triangle is the 300 level and the bottom of the fork. If it breaks here, it is a gift.
jfun
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lol sorry, just a little more plz.. it's a gift as in an optimal long entry point? not a super TA expert or anything but doesn't breaking to the downside of that triangle make a case for going down hard?
oaksacorn
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No worries. It could hold here or it could break the inner triangle with hope of touching the fork support, currently 214. I am saying that even if it breaks here (the inner triangle), I don't don't think the current momentum takes us much lower...certainly not 214 (you never know). The larger triangle timeline wise is the one to watch and 300 is the breakout level. I think scale in buyers get rewarded in a decent period of time ....maybe 2 weeks.
rivet.popper
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So you think this is a bull trend to an ATH? And if so, do you have a timeline for that after the breakout to the upside?
oaksacorn
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Hard to say. Need to trade through 300-309 to some degree, then accelerate through 350-360 and consolidate above this level a bit. The projection of the ascending bull triangle is the 670 area. Then we maybe able to extend and create a real 1 of a larger 3 - 3400 to 6700. Pure conjecture at this point but the market is hold this 240ish level and the daily is pointing to a buy. The weekly has not turned over on a 13,5,3 full stochastic. I think things are positive as of today.