TheChemic

Uptrend and High Possibility of Descending Triangle Formation

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
On daily base we have 2 Symmetrical Triangles. BTC has got out of (not breaking it) Symmetrical Triangle #1, price touched STriangle #1 Lowerline twice (2 black arrow). From there double bottom pattern has merged and the current uptrend has started as evidenced by ADX reverse (black arrow on ADX ). BTC went back to ranging area but it did not stay there (as I have predicted it) by breaking the ranging upperline with high volume although breaking of STriangle #2 Upperline has not been confirmed yet.
The ideal bullish scenario would be a retest of Uptrend Lowerline or even STriangle #2 Upperline (Valid until 10 Nov 11:30 as shown by block dot).
There is a descending triangle forming on both 5M & 15M chart.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out