The usual breakouts for these triangles is within this box, 75% of the triangle is on the 22nd September. On the 23rd BAKKT launches.
Ive been assuming we trend sideways for 6 months, but i cant ignore this- I get the feeling a huge dump or pump is coming (NO IDEA WHICH) out of this traingle, I just found the BAKKT launch date all too convenient.
Time to buy a...
As per the analysis on screen this is what we are seeing:
- Break and retest of daily trendline
- Impulse and then a symmetrical triangle formed on the 1HR / 4HR
We are now waiting for a lower time frame break and retest of this pattern for a sell.
Following reversal around .25 we see a triangle pattern being formed.
24/12/18 we saw a breakout with a new high around .273
Pullback saw resistance at .267 become new support.
Here we buy expecting a long breakout.
Target 1: 1.27
Target 2: 1.273
Target 3: 1.28