Looking at the 3h chart of #STRAT / #BTC for the last week, its been clear for a few days that there is a strong descending triangle that has formed.
The lines of the triangle is set to meet on 8 July.
When that happens, and the price action breaks out of formation, its going to be a clear signal to buy/sell.
In this case, with the descending triangle, if it breaks through the bottom resistance, its a clear signal that it will continue its downward momentum, and chances are good that it will increase downward momentum, which means that I would SELL it as soon as it breaks through the bottom around the 8th of July.
On the other hand, if it breaks through the top, chances are that it might go up, which means its a BUY signal for me, and I will load up on some more.
Either way, its my prediction that something will be happening around 8 July, and its worth keeping an eye on this chart...
See this image:
When it does increase momentum and go downwards, I think it might go down to at least 0.00160000. Around this point, I will consider buying again, and hoping for the upwards correction.
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