BTC symmetrical triangle
Here is a bitcoin hourly chart, a narrowing of volatility, as a symmetrical triangle, what conclusions can be drawn?
A symmetrical triangle is a figure of market uncertainty, when the forces of sellers and buyers are approximately equal, but there are introductory ones, namely the uptrend, which gives more probability to break the triangle upwards. Targets are defined on the triangle base when breaking through upward - 13650-13700$, when breaking through downward - 12400-12350$. They are traded towards the breakout when the price is fixed, it is not recommended to trade inside the figure, of course, unless you have the appropriate experience. The attached ideas showed that the price is traded within an upward channel and that Bitcoin has broken through the upward triangle, this number of patterns in the technical analysis is explained by different timeframes, the older the pattern, the stronger it is.
A symmetrical triangle is a figure of market uncertainty, when the forces of sellers and buyers are approximately equal, but there are introductory ones, namely the uptrend, which gives more probability to break the triangle upwards. Targets are defined on the triangle base when breaking through upward - 13650-13700$, when breaking through downward - 12400-12350$. They are traded towards the breakout when the price is fixed, it is not recommended to trade inside the figure, of course, unless you have the appropriate experience. The attached ideas showed that the price is traded within an upward channel and that Bitcoin has broken through the upward triangle, this number of patterns in the technical analysis is explained by different timeframes, the older the pattern, the stronger it is.
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