CHART ART:
My first TA on this platform. When you get bored at looking at charts you begin to image patterns that become apparent in symbols, shapes, figures that may otherwise go unnoticed. Therefore, I present you with the Spinosaurus Symmetrical Triangle. On the 4H Time Frame, you can see I drew a trend line connecting 3 resistance touches which later become the triangle support levels in the recent price action. Once we saw the past breakout at the 17K level we got 3 consecutive tops and a fall in price at $19500. We saw selling pressure alleviate and buyers slowly pushing the price up to nearly $19,950. At that level is where I began to draw the top triangle for a potential squeeze. In this graph, I used the 3rd or most recent top to draw my potential support, but if you actually connect the middle top, it becomes more a more apparent support level at 18K. Either way, I choose the safe instance that price will not reside at the lowest support for long and true value investing becomes visible between the high and low swings. I gave you my plan if you choose to follow or not is up to you.
Middle Indicator: Stochastic RSI
Stochastic = Purple
RSI = Blue
Thank you for reading! Please leave questions or comments below and like this if it helps you in any shape or form.
My first TA on this platform. When you get bored at looking at charts you begin to image patterns that become apparent in symbols, shapes, figures that may otherwise go unnoticed. Therefore, I present you with the Spinosaurus Symmetrical Triangle. On the 4H Time Frame, you can see I drew a trend line connecting 3 resistance touches which later become the triangle support levels in the recent price action. Once we saw the past breakout at the 17K level we got 3 consecutive tops and a fall in price at $19500. We saw selling pressure alleviate and buyers slowly pushing the price up to nearly $19,950. At that level is where I began to draw the top triangle for a potential squeeze. In this graph, I used the 3rd or most recent top to draw my potential support, but if you actually connect the middle top, it becomes more a more apparent support level at 18K. Either way, I choose the safe instance that price will not reside at the lowest support for long and true value investing becomes visible between the high and low swings. I gave you my plan if you choose to follow or not is up to you.
Middle Indicator: Stochastic RSI
Stochastic = Purple
RSI = Blue
Thank you for reading! Please leave questions or comments below and like this if it helps you in any shape or form.