Big Triangle looks set to break to the down side! Drama
Wow really enjoying watching this play out.
There seems to be a massive triangle forming and so likelyhood a big breakout in one direction, right now it seems like the downside is more likely, although the 10k level is really protecting it,
Interestingly the long term lower support line is gonna be rising above 10k in the next few days so if the price doesnt rise there will be a big risk to a much larger fall out if the 10k line breaks!
Looking very bearish and im happy to not hold a position atm, but enjoying watching it unfold.
The triangle is massive so the target, if its switches to the downside, is often thought of to be the base length of the triangle, so as low as the 5k region could be indicated.
Again i am quite new to tech analysis so dont take much heedence, just like to share ideas and thoughts. feedback is always welcome
There seems to be a massive triangle forming and so likelyhood a big breakout in one direction, right now it seems like the downside is more likely, although the 10k level is really protecting it,
Interestingly the long term lower support line is gonna be rising above 10k in the next few days so if the price doesnt rise there will be a big risk to a much larger fall out if the 10k line breaks!
Looking very bearish and im happy to not hold a position atm, but enjoying watching it unfold.
The triangle is massive so the target, if its switches to the downside, is often thought of to be the base length of the triangle, so as low as the 5k region could be indicated.
Again i am quite new to tech analysis so dont take much heedence, just like to share ideas and thoughts. feedback is always welcome
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