Hey Guys,
About half a year ago I pointed out how insanely bullish I would be if we broke out of this 3 year pattern, ESPECIALLY if we got a support flip retest of the old resistance line which played about absolutely perfectly! My target for this measured move is still somewhere around the 27k - 28k zone. But all in all I think this measured move will be only...
Ive pointed out this triangle for quite some time now and to watch for this exact breakout flowed by a pullback retest of the resistance as new support. these last 2 weekly candles look incredibly beautiful to me. Even if we retest a bit lower and fill the gap, as long as we keep holding this white line as support i will remain incredibly bullish! This pattern...
I have mapped out my exact weekly candle wick touchpoints for this BTC Triangle that dates back to July 2017. I have 3 exact touchpoints on my line before breakout so I had a lot of confidence trading the long side of things for quite a while there. Most of my day trade setups I like to play are triangles and wedges. Although if I'm able to watch a bit closer...
Currently to me looks like we have a bit of a descending triangle forming in yellow on the 15min. If we get a candle close below my support I would be expecting a bit of a drop towards 9k which also happens to match up with my purple parallel channel that I've mentioned in previous posts, As long as we respect old support as new resistance. On the opposite side...
So lately in the TA world I've noticed a lot of people pointing out something similar to this green ascending triangle. To me that triangle looks sloppy at best and I personally believe we are in more of a rising parallel channel like I've outlined in purple. I've had this channel mapped out for a couple weeks now (since about June 3) and it's been filling out...
Here on my weekly chart we have a couple of interesting trend lines. First we have a MASSIVE triangle pattern which dates back to July 2017 continuing to coil up currently. Things to consider is that we have not had a new macro higher high in about 2 and a half years, so that being said we COULD still be in a down trend facing resistance ready to plunge...
