Bitcoin Symmetrical Triangle. Next Trade Setup

26 Oca 2019

⋱ℌello dear friends, let's have a look at Bitcoin⋰


Structure and patterns:

≫ Clearly we in big symmetrical triangle structure, moving inside it closely to the apex.

≫ Inside this pattern, we can found another structure called Descending Wedge (Falling Wedge), it is bullish in two of three cases so it's 67% probability to be bullish, and 33% probability to be bearish.

In this case we have a stop loss under previous swing low, at 3422$
Take profit situated at 3876$. With risk/reward ratio 2.33.

≫ Price currently broke Descending Wedge resistance.

∿ Indicators:

≫ Stochastic showing bullish divergence on 4h timeframe chart.

≫ Relative Strength Index showing bullish divergence on 4h timeframe chart.

26 Oca 2019

Not

this chart doesn't have volume.

So i decided to check it from BitMEX and look at VOLUME:

28 Oca 2019

Not

looks like breakout on 1h timeframe