On the Bitcoin chart, you can define a triangle pattern. The upper boundary of the figure is represented by the ACE resistance line, which has been in effect since May 10, and the lower boundary of the triangle is the BD resistance line formed at point B (upon reaching the 2–year minimum on May 12).
This triangle can be classified as symmetrical. A feature of a symmetrical triangle (unlike ascending, descending and right–angled triangles) is the absence of a pre-deterministic exit - through the upper or lower boundary.
In this situation, it is customary to be guided by the following principles:
• The exit from the triangle must occur between 2/3 and ¾ of its length, i.e. before May 21, otherwise you should stop tracking the figure (triangle).
• The exit direction will be determined by market sentiment – now the quotes of major currencies and altos are in the green zone, which speaks in favor of going through the upper limit.
You should also pay attention to the FALSE breakdown of the EFG support line at point D, which is a bullish sign.
This triangle can be classified as symmetrical. A feature of a symmetrical triangle (unlike ascending, descending and right–angled triangles) is the absence of a pre-deterministic exit - through the upper or lower boundary.
In this situation, it is customary to be guided by the following principles:
• The exit from the triangle must occur between 2/3 and ¾ of its length, i.e. before May 21, otherwise you should stop tracking the figure (triangle).
• The exit direction will be determined by market sentiment – now the quotes of major currencies and altos are in the green zone, which speaks in favor of going through the upper limit.
You should also pay attention to the FALSE breakdown of the EFG support line at point D, which is a bullish sign.