Bitcoin is currently in consolidation. The ascending triangle is traditionally supposed to break to the upside, however, I have noticed a number of opposite side breakouts as well, including the recent bullish break from a massive descending-like triangle on the daily. In either case, on the break there should be a good trade opportunity, although the move will not likely be extensive
I have alerts on each side of the triangle. You could also place stop orders which are automatically filled on either side to ensure the opportunity is not missed.
Note: In terms of making sure you hear your alerts: there are several apps which scan text messages (use Trading View's email to SMS feature...your mobile carrier provides an email address based on your phone number to send you texts through a standardized format you can look up online) and raise an alarm if a certain keyword is found. I use Android and the very good "FireAlert 2". Most apps did not work for me.
I have alerts on each side of the triangle. You could also place stop orders which are automatically filled on either side to ensure the opportunity is not missed.
Note: In terms of making sure you hear your alerts: there are several apps which scan text messages (use Trading View's email to SMS feature...your mobile carrier provides an email address based on your phone number to send you texts through a standardized format you can look up online) and raise an alarm if a certain keyword is found. I use Android and the very good "FireAlert 2". Most apps did not work for me.
Comment:
Bitcoin just broke to the downside but this may be an "out of line" move. Trader discretion is advised.
Comment:
Latest analysis of this formation:
