Here we have Holo ( HOTBTC ) and two beautiful descending triangles.
Notice how the first triangle on the left created a flat bottom from which it produced a violent and highly profitable breakout to the upside... We are seeing a similar pattern develop now.
Before the breakout of the first triangle, we can notice showing up on the . This same signal is now also in play (purple dashed arrow).
On top of this pattern, I also calculated the potential profits of a breakout using Fib. proportions and we are looking potentially at 290% profits if the same situation repeats.
A word of caution, HOTBTC can still move lower before producing a breakout to the upside. Always make sure to set a stop-loss and have a trading plan before buying any altcoin, so you can know your next step regardless of what happens.
Some of these signals are very convincing and we tend to like what we find out, but the truth is that the market is unpredictable and can move in any direction, so it is good to always prepare for all scenarios.
For example, if a drop takes HOTBTC to 20 satoshis and you are prepared for this, this is no big deal, as you can simply wait it out or act as planned.
But if you are unprepared, you might think that is going lower, you might get nervous or scared and sell at the wrong price at a loss. That is why having a plan is always recommended when trading with us.
Thanks a lot for reading.
This is Alan Masters... Feel free to hit like to show your support.
Do you think we may touch the triangle top once more before break?
You can have a fifth wave here but this chart is quite mixed and can produce any outcome.