A Symmetrical Top Triangle on Bitcoin with bullish target ?
After my proposal for an H&S followed by a Rising Wedge both invalidated therefore
with positioning on a Long instead of the Short initially planned (see related idea)
I now propose the possibility of a Symmetrical Summit Triangle with bullish target
As usual, the trade is taken once the pattern confirmed with its breakout bullish and stop loss under the resistance of the triangle.
Without that, of course, we don't take the trade.
A second hypothesis is to take into account two tops instead of one in the isosceles triangle and thus to have a possible impending bullish breakout (white dashed arrow)
DISCLAIMER: This is not an investment advice. Invest only what you can afford to lose.
with positioning on a Long instead of the Short initially planned (see related idea)
I now propose the possibility of a Symmetrical Summit Triangle with bullish target
As usual, the trade is taken once the pattern confirmed with its breakout bullish and stop loss under the resistance of the triangle.
Without that, of course, we don't take the trade.
A second hypothesis is to take into account two tops instead of one in the isosceles triangle and thus to have a possible impending bullish breakout (white dashed arrow)
DISCLAIMER: This is not an investment advice. Invest only what you can afford to lose.
Trade active:
With a rejection on the resistance formed by the first peak (golden dotted line),
then the oblique resistance of the triangle which serves as a rebound support, we come at the same time to obtain:
- an interesting pullback for my 2nd hypothesis (fast bullish breakout)
- and the formation of a complementary bullish pattern in ascending triangle (2 high points at $9k4)!
then the oblique resistance of the triangle which serves as a rebound support, we come at the same time to obtain:
- an interesting pullback for my 2nd hypothesis (fast bullish breakout)
- and the formation of a complementary bullish pattern in ascending triangle (2 high points at $9k4)!
