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alskdj

BTC descending triangles with a possible strong upward breakout

Long
Bitcoin (BITSTAMP:BTCUSD)  
alskdj Updated   
BITSTAMP:BTCUSD   Bitcoin
Support and Resistance Triangle Bitcoin (Cryptocurrency) bitcoinforecast BTCUSD
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supportandresistance triangle bitcoin bitcoinforecast btcusd
If it follows its wave pattern, upward breakout is highly probable. That last bounce off weekly S (red line) is also positive move.
Comment:
Ignore the strategy panel :) This is just some crap I forgot I had running on this chart.

snapshot
Comment:
Because all sorts of triangles and sloped lines fail when when markets moves sideways, I added a yellow box to mark the important area. Call it the decision zone, if you like.

snapshot
Comment:
IF you noticed, there is also a nice little #Gartley Pattern on this chart
Comment:
Comment:
Gartley worked out nice.

snapshot

There is the top edge of the descending triangle (A), market seems to follow religiously but the vertex is not that far any more.
Comment:
Triangle "A" is the one that market keeps "following" at least for now. "W" is still there
snapshot
Trade closed: stop reached:
lot's of cheap bitcoin for everyone!
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