QLC/BTC Accumulation channel. Local uptrend. Triangle.

QLC / BTC accumulation channel. Local uptrend. At the top of the trend, a symmetrical triangle forms near the channel resistance line. The price approached the resistance of the horizontal accumulation channel. A breakthrough of it and consolidation above it will finally unfold the main trend.

Entrance on a breakout or rollback after a breakthrough of channel resistance.
In case of not overcoming the channel resistance - trading inside the channel from the trend lines indicated on the chart.

Trade fermée: cible de profit atteinte:

First target level taken + 81% from triangle breakout

Commentaire:

+ 81% and + 46% of the mirror level from the pivot zone (previous resistance). Now something like a triangle is being drawn in an upward local trend. It all depends on how the price will keep this mirror level. If this symmetrical triangle is formed further and the price breaks it up, there is a residual exit from the accumulation channel and a reversal of the secondary trend. If the price is driven under the mirror level - trading within the channel from the trend ones.

Commentaire: