Using the red triangle we have a breakout. Yes obviously. I used the measurement and angle of the flagpole and simply attached it to the breakout point. Which puts my guess of a 100k BTC around the 4th week of March 2022. From that top it seems typical to retest the upper trending line of the triangle. Which is around 40k.
Using the flagpole measurement at the breakout point. Pretty simple. Obviously we have to breakout and up for this to occur. Seems like the RSI and supports favor a break to the upside even if we go down to 37k first. If we breakdown it should bottom around 24k being the lower support of the triangle. Just an amateur TA trying to learn and contribute.
I am the new guy do not use this as any advice.
Watch for a breakdown from the lower upward moving trendline. Once a confirmation of the breakdown occurs, SEEMS that it would indicate a good place to enter a short position. But... I believe a breakdown "fake-out" will occur, and then a fast breakout through both the lower and upper trendlines of the rising...
I am brand new, learned the hard way, now I am hopefully pointed in the right direction. IF my analysis is correct I think as long as the lower trendline is maintained, we are in a very bullish continuation. If it breaks? Thats where I don't know... seems very bad if it does break lower trendline. Thanks for any feedback or jokes about a noob.