The triangle pattern is known as a bilateral pattern, which means that after a break-out the trend could either continue or reverse. There are basically 3 types of triangles and they all point to price being in consolidation: symmetrical (price is contained by 2 converging trend lines with a similar slope), ascending (price is contained by a horizontal trend line acting as resistance and an ascending trend line acting as support) and descending (price is contained by a horizontal trend line acting as support and a descending trend line acting as resistance).
The more price approaches the apex (where the trend lines converge), the bigger the chance of a break-out. The triangle pattern has completed when price breaks out of it, in either direction. Conservative traders may look for additional confirmation. The target can be estimated by measuring the height of the back of the triangle and extending it in the direction of the breakout. A common stop level lies just outside the triangle.
Hey, hey, hey! Wassup wassup wassup? Bitcoinnect!!!
You'll be happy to know the $50 I left on my Bitmex account when I defenitively quit crypto are doing very well.
Went short 130 bucks saturday morning at the price of $10090, and that went rather well :D
So as long as this little money survives I'll still look a little bit and make calls and you'll still hear...
Hello, I just posted an idea on why I don't like taking breakouts, I mostly do double bottoms on support, but I really loooooove Bit. Connnneeeect. Er I mean triangles.
And as a support and resistance "expert", I know when to buy or not (well sometimes). I got a idea of when they are probably not going to hold much longer, and you see, from one strategy it can...
Hello fellas, I really think it is very important to keep giving you an update under this crucial circumstances of bitcoin and current crypto market.
Looking at the chart, We can see that currently the price is trending right at the confluence area between 0.5 fib levels and the 200 MA. This is clearly a relatively strong support for bitcoin. But, at current...
Hello Fellas, Today is a very interesting day when we see at the market . it is all because I saw a lot of buy signals from altcoins which could lead them into a huge bullish run in the next few days.
First of all, if we look at the 4 hours chart, we can easily find an ascending triangle has been formed which usually could lead the price to go up. Beside that,...
Hello Fellas, finally we come here with an update on the number one largest cryptocurrency in this universe which is BITCOIN! If you've seen my video analysis breakdown on youtube about btc, you will realize that finally btc has got a confirmation of breaking down the yellow area. what's next after this?
Like what I've always said, there are a lot of arguments to...
This is my perspective for bitcoin's possible movement, after breaking down of a huge descending triangle , it moves real quick to test the 200 moving average on daily based. This 200 MA is moving align with the 50% fib level which make it as a confluence zone. in my opinion, we will see 1 more waves up to test the previous broken support aroung $9000 - $9500...
Hello Fellas, Let's come to the update of bitcoin.
I want to give a highlight on the green trend line. this is the previous trend line that has already broken up and right now the price is trying to test it again to confirm as support. And if we see a correlation between this trend line and the fibonacci extention 1.1 level, it almost moving align with it. And...
Happy Saturday all, welcome back with me in this newest update about bitcoin. let's check it out!
If you remember about 2 methods of connecting the trend line, there are wick to wick and the body to body connecting method. Personally, I am more interested in using the body to body connecting method because it will exclude the bull/bear trap region and exclude the...
QLC is looking very juicy right now, we can easily deduce that the white region of this current move is a major support for this altcoins. That's why it is become one of the most stable coins during current indecision of bitcoin's price. When I write this analysis, QLC is one of some coins which has 3% gain comparing the previous days.
Now looking at the 4 hours...
Hey Fellas, feel so interesting with last few days trading result which gives me personally a good gains on some of my coins that I hold. The most profitable coins that I am holding is PPT on Binance and of course for you who have followed my channel, you will realize it as well.
And litecoin here is one of many candidates that I would like to share to you. The...
So you been trading for a while and got stuck in a symmetrical triangle apocalypse? let me make it easy on you:
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**** Facts:
1. Triangle: At-least 2 lower highs, 2 higher lows to start the trend.. (in total 4 points)
2. Trend: Usually happens after months of one...
Here we see endless opportunities if we correctly identify trend-line, support and resistance zones (highlighted by a red dots), and patterns (mostly triangles, and wedges). The entries are highlighted by small blue squares.
Hello fellas, how are you doing today? I hope you are doing well in this choppy market. In current podcast, I will share my idea about the psychological behind the triangle pattern and what can people with thick pocket do to manipulate the market. let's go!
First of all, I want to remind you again and again that bitcoin is moving inside a huge descending...
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