Dear Traders,
We're waiting for a breakout on this very pretty Descending Triangle. The up or downside of this Triangle is around 3.000 USD. I'm waiting for high volume to confirm a breakout. A triangle usually breaks out around 75 to 80% of the pattern. A breakout could be expected around the 20th and 28th of September in case the small triangle breaks on high volume. If volume doesn't confirm the breakout then there is a bigger Triangle to keep in mind. In that case I'd expect the breakout to happen for the first of October. I'll place an SL below my support and a LO above my resistance line. RSI is still 'stuck in the middel', volume is very low and so is the volatility, just like it used to be, when forming this pattern.
Enjoy the ride.
Maddie
P.S. Keep in mind that BAKKT will launch on the 23 of September. The launch could have a big impact on the price.
We're waiting for a breakout on this very pretty Descending Triangle. The up or downside of this Triangle is around 3.000 USD. I'm waiting for high volume to confirm a breakout. A triangle usually breaks out around 75 to 80% of the pattern. A breakout could be expected around the 20th and 28th of September in case the small triangle breaks on high volume. If volume doesn't confirm the breakout then there is a bigger Triangle to keep in mind. In that case I'd expect the breakout to happen for the first of October. I'll place an SL below my support and a LO above my resistance line. RSI is still 'stuck in the middel', volume is very low and so is the volatility, just like it used to be, when forming this pattern.
Enjoy the ride.
Maddie
P.S. Keep in mind that BAKKT will launch on the 23 of September. The launch could have a big impact on the price.
Comment:
Made a spelling mistake: HUGH instead of HUGE, whoops #dyslexia, sorry!