We have been waiting for Ethereum network to come live in Wing network. Now finally it is operational and works like a clock! This should bring many traders from Ethereum network! OneWing pegged to a dollar also live! Market cap is still small 84 million usd at the moment! Lots of room to grow.
We already break out of one ascending triangle and pull back and we maybe tracing for another ascending triangle. The ascending triangle, often referred to as the ‘rising triangle’, is one of the top continuation patterns that appears mid-trend. Traders should anticipate the market to continue in the direction of the larger trend.
Education part!
WHAT IS AN ASCENDING TRIANGLE?
The ascending triangle is a bullish continuation pattern and is characterized by a rising lower trendline and a flat upper trendline that acts as support. This pattern indicates that buyers are more aggressive than sellers as price continues to make higher lows. The pattern completes itself when price breaks out of the triangle in the direction of the overall trend.
So this is fairly straight forward pattern and fairly easy to trade. As soon as we break from this upper trendline , sky is the limit! Most importantly The ascending triangle produces a clear target level(based on the max height of the ascending triangle) So our target is clearly $120-150 range in midterm. For this to happen price should not close below $50 and Btc should play nicely!(By the way Btc still seem very strong. I am not worried at this moment.)
Green dashed arrows super bullish continuation and red dashed line for in case if we decide to correct lower but it is very much unlikely at this point!
** This is not an investment idea. Only trying to pass my vast trading experience on cryptos to newcomers and less experienced traders. My predictions based on calculated reward Risk ratios. I can not be right all the time. So far I have very high percentage of success of predicting. Once you click buy button you are doing it with your own will. Nobody can force you to buy and sell but yourself. Please comment below and click like button to support my efforts.
We already break out of one ascending triangle and pull back and we maybe tracing for another ascending triangle. The ascending triangle, often referred to as the ‘rising triangle’, is one of the top continuation patterns that appears mid-trend. Traders should anticipate the market to continue in the direction of the larger trend.
Education part!
WHAT IS AN ASCENDING TRIANGLE?
The ascending triangle is a bullish continuation pattern and is characterized by a rising lower trendline and a flat upper trendline that acts as support. This pattern indicates that buyers are more aggressive than sellers as price continues to make higher lows. The pattern completes itself when price breaks out of the triangle in the direction of the overall trend.
So this is fairly straight forward pattern and fairly easy to trade. As soon as we break from this upper trendline , sky is the limit! Most importantly The ascending triangle produces a clear target level(based on the max height of the ascending triangle) So our target is clearly $120-150 range in midterm. For this to happen price should not close below $50 and Btc should play nicely!(By the way Btc still seem very strong. I am not worried at this moment.)
Green dashed arrows super bullish continuation and red dashed line for in case if we decide to correct lower but it is very much unlikely at this point!
** This is not an investment idea. Only trying to pass my vast trading experience on cryptos to newcomers and less experienced traders. My predictions based on calculated reward Risk ratios. I can not be right all the time. So far I have very high percentage of success of predicting. Once you click buy button you are doing it with your own will. Nobody can force you to buy and sell but yourself. Please comment below and click like button to support my efforts.
Comment:
Textbook style breakout from ascending triangle. Retesting upper trendline! This is where we are at this moment. If all works out well , this will be moonshot opportunity!
Comment:
We did break down from assumed 2. ascending channel. Perhaps I was a bit hasty to draw second one. Xrp disrupted the market as usual but they are due for large correction. Good thing that initial break out and pullback still intact and perfect amount of correction already displayed. This leg should be big one. I mean possible 2x. Exciting one!