pbrooks1976

BTCUSD - ascending triangle anyone ?

Panjang
GEMINI:BTCUSD   Bitcoin
OK, this may be a bit of a stretch but to me it looks like an ascending triangle on the daily chart. The top has been touched twice and the bottom 3 times, making this pattern valid.

Expectation would be to at least retest the top of the triangle at $10500, if a break upward were to occur it would put the target in the $12k range.

I am long on this pattern now, stop loss to be set $150 below the lower triangle border and adjusted over time.

any drop and close below the lower boundary of the triangle would be either a breakdown or invalidation of the pattern, and I would short at this point with a target of $8000.

Good luck.
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