- An ascending Triangle is formed .
- Its worth mentioning that according to Bulkowski’s study on patterns , Ascending Triangles upward breakouts occur 77% of the time .
- Breakout to the upside opens the door to 38$ as per the measuring rule of patterns in Technical Analysis.
- Breakout to the downside and we face the support zone from the previous trend line ....
- Bitcoin has been consolidating in a side range since May .
- A rectangle Pattern was formed .
- A breakout of this Pattern gives us a Short opportunity towards the next Support.
- I confirm the breakout with :
1-Daily Close below the Rectangle Pattern .
2-Price below the 200 EMA .
If the Breakout happens , I would short with :
-Stop Loss above the breakout...
