Hi people of Tradingview and my precious followers!
There's something interesting that I want to share with you. If you look at the chart above, you'll see that ONE is in descending triangle. There are 2 options, it either breaks out to the upside or the downside.
So what do we see on the chart?:
- Volume is decreasing= this can be a signal for an explosive move in the future.
- Bollinger Bands are shrinking= this can be a signal for an explosive move in the future.
- We scan see a descending triangle.
- Last swing low is higher than the previous swing low.
- If you look at the RSI, you can see that it's forming some sort of ascending triangle. (I would take that with a grain of salt because it broke the resistance level in the past)
Conclusion:
These are all great signals that the price may have an explosive move. But until now, we don't know in which direction the price will go. So, if it breaks to the upside and it closes beyond the resistance level of the descending triangle and it also closes beyond the last swing high. That's when we can see some good gains.
KEEP IN MIND: If BTC is gonna eat shit, the patterns don't mater. Altcoins will east shit too.
That's it for this analysis. If you discovered something new or you thought it was quite valuable - give it a like to support this idea!
If you don't like this idea, you can follow me.
See ya✌️
There's something interesting that I want to share with you. If you look at the chart above, you'll see that ONE is in descending triangle. There are 2 options, it either breaks out to the upside or the downside.
So what do we see on the chart?:
- Volume is decreasing= this can be a signal for an explosive move in the future.
- Bollinger Bands are shrinking= this can be a signal for an explosive move in the future.
- We scan see a descending triangle.
- Last swing low is higher than the previous swing low.
- If you look at the RSI, you can see that it's forming some sort of ascending triangle. (I would take that with a grain of salt because it broke the resistance level in the past)
Conclusion:
These are all great signals that the price may have an explosive move. But until now, we don't know in which direction the price will go. So, if it breaks to the upside and it closes beyond the resistance level of the descending triangle and it also closes beyond the last swing high. That's when we can see some good gains.
KEEP IN MIND: If BTC is gonna eat shit, the patterns don't mater. Altcoins will east shit too.
That's it for this analysis. If you discovered something new or you thought it was quite valuable - give it a like to support this idea!
If you don't like this idea, you can follow me.
See ya✌️