RISE or FALL!? part 1: Potential Ascending Triangle Pattern?
Hi friends! things are getting interesting looking at the 1h time frame
As i said in my first idea post we have tested the 0.236 FIB around the $12441 remembering its a ball park figure which resistance can have a range around the 0.236 FIB as projected as my RED rectangle resistance box.
BEARISH: At this point in time we have failed to push through the 0.236 resistance level, Falling back down to the trend support level and failing to bounce of this support will result in a test of the Minor and Major support levels i have marked before bouncing again. Confirmation of this break will be around the $10500 mark in my opinion!
BULLISH: This is getting exciting! There is a potential Ascending Triangle Pattern in the mist. I have outlined this by the BLUE triangle. If we bounce in between the 0.236 FIB and the support trend line this may well be a VERY Bullish sign and we can see a break out to retest new highs above $14000! Confirmation of this will be a bounce from around the Support trend line and a retest of the 0.236 FIB!
REMEMBER this is my own opinion i'm sharing with you, this is not trading advice so trade with care as this market is very high risk and volatile.
ENJOY! exciting time to come!
Stay Frosty
Aus-
As i said in my first idea post we have tested the 0.236 FIB around the $12441 remembering its a ball park figure which resistance can have a range around the 0.236 FIB as projected as my RED rectangle resistance box.
BEARISH: At this point in time we have failed to push through the 0.236 resistance level, Falling back down to the trend support level and failing to bounce of this support will result in a test of the Minor and Major support levels i have marked before bouncing again. Confirmation of this break will be around the $10500 mark in my opinion!
BULLISH: This is getting exciting! There is a potential Ascending Triangle Pattern in the mist. I have outlined this by the BLUE triangle. If we bounce in between the 0.236 FIB and the support trend line this may well be a VERY Bullish sign and we can see a break out to retest new highs above $14000! Confirmation of this will be a bounce from around the Support trend line and a retest of the 0.236 FIB!
REMEMBER this is my own opinion i'm sharing with you, this is not trading advice so trade with care as this market is very high risk and volatile.
ENJOY! exciting time to come!
Stay Frosty
Aus-
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