GBYTE - Symmetrical Trianlge, Will it Break Out

BITTREX:GBYTEBTC   Bytes / Bitcoin
I'm watching GBYTE closely and am slightly bullish on it. There are some good signs, it has a medium term uptrend and there seems to be a symmetrical triangle forming. Other signs include a recent golden cross and an inverse hammer which hint at an uptrend which looks to be eventuating...

It looks to have broken the symmetrical triangle, however, I think it will be a failed break out due to it being over bought and due to the lack of volume . There are plenty of options for other similar symmetrical triangle to form and for it to break out. I wouldn't be surprised if some volume returns to the market next week and we see it break out. If it does I believe we are in for a very big price increase.

I'll keep monitoring.
Comment: NOTE: Found a mistake on my chart. The callout should read "overbought" not oversold.

Also, a long red candle is forming which could further indicate a failed breakout is likely.
Comment: Confirmed failed break out and still over bought. No trade yet, will keep watching for a while yet and don't expect much action until the market recovers. Which is anyone's guess.
Order cancelled: I don't believe this analysis is valid any longer. It has broken the triangle on both the top and the bottom. I won't be watching closely any more and will not be entering a trade in the foreseeable future.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out