Ascending triangle consolidation with many paths up and down.
We see BTC consolidate into an ascending triangle, though please always bear in mind that an ascending triangle is not always bullish. We have seen cases of these breaking down dramatically.
Here is BTC's ascending triangle.
Here is an ascending triangle of LTC that breaks down as an example:
Here is a bullish scenario of we break up. We first test resistance near 12,500. If successfully breaking the trend line resistance, we will see an attempt at $14,500.
Here is the bearish scenario of we break down. We assume targets of the general base height of the wedge. We see it's possible to break back down to the 9-10k regions, testing that support again. Where if that support fails, we will see sub 9k zones.
Pay attention to this key apex zone to see direction of breakout. Once these trend line resistance or support is broken, BTC will give general direction for alts as well.
Always be cautious, take high probability trades, plan entries and exits, stick to high reward low risk R:R setups. Good luck traders
Please consider these videos:
Lesson 1 - Bitfinex Tutorial - How to Customize and Set Up Bitfinex
Lesson 2 - Tutorial Part 2 How to Analyze Candlesticks Charts with Strategy
Lesson 3- Let's learn Moving Averages
Lesson 4- Let's Learn Relative Strength Index RSI with Advanced Strategy
Lesson 5 Let's Learn MACD and Histogram
Lesson 6 Let's Learn Margin Trading Long, Short, Leveraging
Lesson 7 Let's Learn Basic Risk Management
Lesson 8 Let's Learn Fibonacci Retracement Part 1
Lesson 9 Let's Learn Fibonacci Extension Part 2
Lesson 10 Quick Intro to Analyzing Level 2
Lesson 11 Introduction to Laddering
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The ultimate goal is to help the crypto community because I think there's a lack of these type of videos. I want to share everything I've learned because knowledge is only power if passed on. These are educational videos intended to teach how to think through thought-out rationalization.
DISCLAIMER:
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