LOOMBTC! Bullish Ascending Triangle!
Ascending Triangle: Identification Guidelines
Characteristic: The price trend can be in any direction leading to the chart pattern. The shape is triangular and prices move between two converging trendlines where two trendlines bound prices; the top trendline is horizontal and the bottom one slopes upward. Crossing price must cross the pattern from side to side, filling the triangle with price movement, with no white space. Price must touch one trendline at least three times, the other at least twice, forming distinct valleys and peaks. Volume trends downward 80% of the time. Breakout upward 63% of the time and 62% of the way to the triangle apex (upward breakouts) and 63% of the way for downward breakouts.
Time Frame: Daily Chart Long
My Targets: Probability can change base on BTC actions.
Possible Entry: What I'm looking for:
.00000888 - .00000940
Resistance needed to break with candle close
.00000940
Targets: Can exceed or not meet expectation
1 .00001040
2 .00001259
Stop: Base on a Daily Candle Close.
.00000836
Please remember to DYOR and this is not financial or investment advice. It's my targets for the market at this moment. Please let me know what you think of my technical analysis and thank you.
Ascending Triangle: Identification Guidelines
Characteristic: The price trend can be in any direction leading to the chart pattern. The shape is triangular and prices move between two converging trendlines where two trendlines bound prices; the top trendline is horizontal and the bottom one slopes upward. Crossing price must cross the pattern from side to side, filling the triangle with price movement, with no white space. Price must touch one trendline at least three times, the other at least twice, forming distinct valleys and peaks. Volume trends downward 80% of the time. Breakout upward 63% of the time and 62% of the way to the triangle apex (upward breakouts) and 63% of the way for downward breakouts.
Time Frame: Daily Chart Long
My Targets: Probability can change base on BTC actions.
Possible Entry: What I'm looking for:
.00000888 - .00000940
Resistance needed to break with candle close
.00000940
Targets: Can exceed or not meet expectation
1 .00001040
2 .00001259
Stop: Base on a Daily Candle Close.
.00000836
Please remember to DYOR and this is not financial or investment advice. It's my targets for the market at this moment. Please let me know what you think of my technical analysis and thank you.