It looks like an ascending triangle has started to form at the bottom of a significant bearish move. This means that the triangle is signalling a reversal and the price usually would break out the resistance level of the triangle. I would keep everyone updated on this over the coming days.
Nice bottom here where we can see an ascending triangle forming. Notice also how we are seeing an increase in the volume in regards to the white candles which strengthens the bullish scenario.
Furthermore here is an excerpt from the book ' TA of the Financial Markets ' by John Murphy (pg. 138):
" While the ascending triangle most often appears in an uptrend...
MBH is forming a decade long ascending triangle.
No breakout yet, but can it break 100p?
Good results show potential for a bullish move,
but the pattern is soon to be completed.
Need to check in 12 months from now.
A horizontal top in combination with a rising bottom. This occurs when a bullish market pushes against the resistance level. Here we can see BTC broke through the $11k resistance but looks like there is a slight retraction. In my opinion we will see this start to increase in value again shortly as the $11k has now become a support.
BITFINEX:ETHUSD ETHUSD has been forming an ascending triangle, and following today's run, it could be about to break the upside, giving the possibility of reaching $950 in the near term. Buy now or wait for confirmation.
I'm new to this so any feedback would be appreciated :). Ascending triangle shape forming that pinches around the previous all time high region. A break out on the upside could see us bull to the 100 mark and beyond gaining more investor attention.
There is a possible correction looming, both RSI and Stochastic showing bearish divergence. There is some resistance at this level with it being testing it 4 times, we are now at the apex of an ascending triangle. The target projected from the triangle measurement is just above the 38.2% FIB level, this are should provide support to a move down before possibly...
Clear ascending triangle pattern recognisable on daily and weekly timeframes, there is a bullish bias using the 3 drives pattern. With this in mind, and the recent rejection of the lower support line, use a break of the counter trend line to confirm the trade. Ideally price should eventually break out at the to of the triangle, however expect a retest of the lower...
So used a bit of Ascending Triangle chart pattern rules along previous major support and resistance levels and came to this conclusion.
I think it will continue to tip toe on support level and possibly touch the ceiling again. All before major breakout.
Will be watching this one with an eagle eye :)