Happy Friday everybody, we're getting this day started with a quick check in on NANO. The 4hr looks amazing; we have a beautiful ascending triangle forming with the high trend line being tested twice, countered by the low trend offering higher levels of support twice. The volume decreasing is a sign of accumulation taking place and should not be thought of as lack of buy side investors.
To get a new target price breaking out of an ascending triangle we need to measure the triangle at its widest and move that height above the top horizontal line (resistance breakout). The lowest low in the triangle compared to the top horizontal is roughly 2.5 blocks below, so if we flip that on top of the resistance it puts our new target price close to the top of the trend line, roughly .002.
Not advice - Get outside more often - Call your mom and eat some greens
-Delgado-
To get a new target price breaking out of an ascending triangle we need to measure the triangle at its widest and move that height above the top horizontal line (resistance breakout). The lowest low in the triangle compared to the top horizontal is roughly 2.5 blocks below, so if we flip that on top of the resistance it puts our new target price close to the top of the trend line, roughly .002.
Not advice - Get outside more often - Call your mom and eat some greens
-Delgado-