Today 7th of October 2019 marked the 24th day of consolidation inside a bullish continuation chart pattern called the ASCENDING TRIANGLE CHART PATTERN. We look for a bullish continuation as the 55day average is below the price serving as a support to price. The validity of this pattern is more focused on the horizontal resistance, as price continues to hold/hug the horizontal resistance there is high probability/chances for a massive breakout.
The ascending triangle chart pattern signals distribution. Buyers overcoming the sellers, and also the breakout from this pattern becomes more reliable if the chart pattern boundaries(horizontal resistance) is tested several times. This chart pattern becomes valid only when price closes above the resistance.
Breakout: 0.022419sats
Resistance 1: 0.022924sats
Resistance 2: 0.023815sats
Resistance 3: 0.024664sats
Resistance 4: 0.026124sats
Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button!
Ideas published should not be referred to as an investment advice.
The ascending triangle chart pattern signals distribution. Buyers overcoming the sellers, and also the breakout from this pattern becomes more reliable if the chart pattern boundaries(horizontal resistance) is tested several times. This chart pattern becomes valid only when price closes above the resistance.
Breakout: 0.022419sats
Resistance 1: 0.022924sats
Resistance 2: 0.023815sats
Resistance 3: 0.024664sats
Resistance 4: 0.026124sats
Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button!
Ideas published should not be referred to as an investment advice.