MKR// Ascending TriangleMKR has been slowly but surly climbing up on its trend line and finding resistance at the 38% level. Price has printed an Ascending triangle.
MKR has been riding the BTC momentum and withstanding the dips holding its main areas of support.
What I expect to happen is, when BTC creates new ATHs, MKR will likely follow with momentum, breaking the key resistance level and find support. The safest way to trade these triangles is to wait for the retest of the zone, or attempt to find an entry on the pullback after the break of the resistance.
If you've paid attention to any ALTs this week or some of the ALTs I've posted youll realize that IMO, some of these tokens are being pumped/manipulated in one way or another. Therefore, when trading, it is best to always use a stop-loss, and then protect your downside, meaning take your profit as you go, or set your SL above breakeven.
Let me hear your thoughts!
