Ascending Triangle for Bitcoin?

4 Mac 2022

It seems that Bitcoin is forming an Ascending Triangle on the Daily TF. Following are some Key Takeaways to consider.

• The trendlines of a triangle need to run along at least two swing highs and two swing lows.
  
• Ascending triangles are considered a continuation pattern, as the price will typically break out of the triangle in the price direction prevailing before the triangle, although this won't always occur. A breakout in any direction is noteworthy.
• Target is calculated by taking the height of the triangle, at its thickest point, and adding or subtracting that to/from the breakout point.
  

Source of these takeaways are from Investopedia, as I think that this Article matches pretty much what I think about "Ascending Triangles"


If you like my Content, hit the 👍 and/or comment and make sure to follow.
This Analysis is not intended to be investment advice. Always DYOR.

1 Apr 2022

Nota

Bitcoin seems to have broken out, Currently testing the upper Trendline from the Ascending Triangle. If the retest is successful bitcoin should have a really nice bounce. Target is at 54'4k. 52k is going to be a significant Level to break.