Alt coins usually move after btc has done a move. Btc is currenly resting so I feel that this breakout above both 2150 and the pivot at 2240 has good potential.
We have seen big green accumulation candles during the consolidation phase. There is also a pretty juicy volume pocket and should not see too much resistance until the 2700's really.
The pattern could also be seen as a head and shoulders pattern.
Risk is set at the base of the breakout at 2173.
Target is set at 2450 (Added height of rectangle on breakout point) and 2580 which would be the measured move of the head and shoulders pattern.
I plan to sell half at 2450 and then move up the stop with 2580 as the trigger to exit the rest of the position.
We have seen big green accumulation candles during the consolidation phase. There is also a pretty juicy volume pocket and should not see too much resistance until the 2700's really.
The pattern could also be seen as a head and shoulders pattern.
Risk is set at the base of the breakout at 2173.
Target is set at 2450 (Added height of rectangle on breakout point) and 2580 which would be the measured move of the head and shoulders pattern.
I plan to sell half at 2450 and then move up the stop with 2580 as the trigger to exit the rest of the position.
Trade closed: stop reached