First Post. Just got into trading recently and decided to start testing my charting and predictions by putting my ideas out there.
Looks like BTS after over a week of consolidation is ready to break out of the pennant formation. If it breaks through the red resistance, watch closely to see if it is able to break through the resistance of the blue channel. If it does so, I believe its very likely to spike to around 20,000 satoshi based on the previous upspike. Watch closely for an increase in trading volume to confirm a breakout
If it bounces back down at the blue resistance line I would expect that the upward trend will just be prolonged a couple of days.
Lets see if this pans out. Please trade at your own risk.
And please if you have any insight or advice to help me improve in my charting please feel free to share, thanks!
Looks like BTS after over a week of consolidation is ready to break out of the pennant formation. If it breaks through the red resistance, watch closely to see if it is able to break through the resistance of the blue channel. If it does so, I believe its very likely to spike to around 20,000 satoshi based on the previous upspike. Watch closely for an increase in trading volume to confirm a breakout
If it bounces back down at the blue resistance line I would expect that the upward trend will just be prolonged a couple of days.
Lets see if this pans out. Please trade at your own risk.
And please if you have any insight or advice to help me improve in my charting please feel free to share, thanks!