Hi everyone,
Thank you for considering reading my idea.
Here we have a simple symmetrical triangle pattern. Usually, this pattern is a continuation pattern. Since we were dumping before we formed this pattern, it is expected to continue its trend to the downside. But now, we're seeing that it broke out of the pattern to the upside. Although, we broke out, the volume is not that convincing. This could be a false break out and dump down to $35.4K. Let's see what would happen in the next few hours.
Thank you for reading my idea. Like this idea and follow me for more analysis like this. NFA . TAYOR. DYOR.
Cheers,
Juvs
Thank you for considering reading my idea.
Here we have a simple symmetrical triangle pattern. Usually, this pattern is a continuation pattern. Since we were dumping before we formed this pattern, it is expected to continue its trend to the downside. But now, we're seeing that it broke out of the pattern to the upside. Although, we broke out, the volume is not that convincing. This could be a false break out and dump down to $35.4K. Let's see what would happen in the next few hours.
Thank you for reading my idea. Like this idea and follow me for more analysis like this. NFA . TAYOR. DYOR.
Cheers,
Juvs
Trade closed: target reached:
Target reached to the down side. The rally was indeed a false break out.
