EMC2BTC Descending Triangle
Updated
EMC2BTC Descending Triangle
(1) At the bottom of Hurst cycle inners - which normally
means movement upwards is expected, if it breaks top inner (cyan) and
especially if it breaks resistance line (top blue)
we should expect it to keep pumping up. (see yellow line
for previous top inner break).
(2) Starting to consolidate at bottom of descending triangle.
(3) Low RSI (hopefully goes a bit closer to 30!)
(4) MACD tightening (see orange line - this happened for
yellow line too!)
(1) At the bottom of Hurst cycle inners - which normally
means movement upwards is expected, if it breaks top inner (cyan) and
especially if it breaks resistance line (top blue)
we should expect it to keep pumping up. (see yellow line
for previous top inner break).
(2) Starting to consolidate at bottom of descending triangle.
(3) Low RSI (hopefully goes a bit closer to 30!)
(4) MACD tightening (see orange line - this happened for
yellow line too!)
Comment
Oops.. for (1) I meant see yellow line for previous top outer break! There have been top inner breaks in descending triangle, but a top outer break is a big deal because the market is being overbought.Comment
My drawing was off for this one, aim for sell at 0.00012. It's not a descending triangle its a descending channel and i didnt draw the lines correctly D: You live and you learn though.Trade closed manually
see above
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