Symmetrical triangle forming - most people on here are saying it's a bullish pattern but it's not, its a continuation pattern. This one just happens to be bullish due to the fact that it's occurring in an uptrend.
In the overall scheme of things, we are still in a bullish pattern. However, the recent short term trend has been bearish with the lack of known exchange support.
Notable TA:
MACD on the 4 hour is waiting to turn.
RSI near oversold levels.
Still in overall upward trend - but in bottom channel of trend
Symmetrical triangle patterns typically pop to the upside 1/2 to 3/4 of the way through and we are now entering that territory.
I'm fully expecting a bittrex announcement as they have supported a previous zcl fork and waited until 2 days before BTG to announce support, but hands are weakening so be careful if you're looking to enter now.
I could see this easily hitting .02 if an announcement is made by Bittrex.
If no announcement occurs and you're still hodling on an exchange, you're going to be in a lot of trouble.
Tread wisely, watch carefully and don't use this as trading advice because I have no idea what I'm talking about.
In the overall scheme of things, we are still in a bullish pattern. However, the recent short term trend has been bearish with the lack of known exchange support.
Notable TA:
MACD on the 4 hour is waiting to turn.
RSI near oversold levels.
Still in overall upward trend - but in bottom channel of trend
Symmetrical triangle patterns typically pop to the upside 1/2 to 3/4 of the way through and we are now entering that territory.
I'm fully expecting a bittrex announcement as they have supported a previous zcl fork and waited until 2 days before BTG to announce support, but hands are weakening so be careful if you're looking to enter now.
I could see this easily hitting .02 if an announcement is made by Bittrex.
If no announcement occurs and you're still hodling on an exchange, you're going to be in a lot of trouble.
Tread wisely, watch carefully and don't use this as trading advice because I have no idea what I'm talking about.
Comment:
Symmetrical triangle patterns typically pop to the upside 1/2 to 3/4 of the way through and we are now* entering that territory.
Trade closed: stop reached:
RIP ZCL
Bittrex announced too late, poor lil guy never had a chance.
Bittrex announced too late, poor lil guy never had a chance.